26.04.2007 11:09:00
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NASDAQ Panel Grants Black Box Corporation's Request for Continued Listing
Black Box Corporation (NASDAQ:BBOX) today reported that a Nasdaq Listing
Qualifications Panel (the "Panel”)
has granted the Company’s request for
continued listing of the Company’s securities
on The NASDAQ Stock Market. The Company’s
continued listing is subject to certain conditions, including: (1) on or
before June 20, 2007, the Company must file its Form 10-Q
for the quarter ended December 30, 2006, as well as any required
restatements; and (2) the Company must provide NASDAQ with additional
information regarding the Company’s
independent review of its historical stock option practices and related
accounting. At the present time, the Company expects to be able to
comply with the Panel’s conditions for
continued listing of the Company’s securities.
As previously announced, the Audit Committee of the Board of Directors
of the Company, with the assistance of outside legal counsel, is
conducting an independent review of the Company’s
historical stock option grant practices and related accounting. As soon
as practical following the completion of the Audit Committee’s
review, the Company will file its Form 10-Q for the quarter ended
December 30, 2006 and any necessary restatements and amended filings.
Black Box is the world’s largest technical
services company dedicated to designing, building and maintaining today’s
complicated data and voice infrastructure systems. Black Box services
175,000 clients in 141 countries with 173 offices throughout the world.
To learn more, visit the Black Box Web site at www.blackbox.com.
Black Box® and the
Double Diamond logo are registered trademarks of BB Technologies, Inc.
Any forward-looking statements contained in this release are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. You can identify these forward-looking
statements by the fact they use words such as "should," "anticipate,"
"estimate," "approximate," "expect," "target," "may," "will," "project,"
"intend," "plan," "believe" and other words of similar meaning and
expression in connection with any discussion of future operating or
financial performance. One can also identify forward-looking statements
by the fact that they do not relate strictly to historical or current
facts. Forward-looking statements are inherently subject to a variety of
risks and uncertainties that could cause actual results to differ
materially from those projected. Although it is not possible to predict
or identify all risk factors, they may include the outcome of the review
of the Company’s stock options practices,
including the related informal Securities and Exchange Commission
inquiry and shareholder derivative lawsuit, the Company's ability to
satisfy any conditions imposed by NADSAQ for continued listing of the
Company’s common stock and the impact of any
actions that may be required or taken as a result of such review or that
may be imposed by NASDAQ. Should the Company be unable to meet the
deadlines set forth in the Panel’s decision,
there can be no assurance that NASDAQ will grant an additional extension
of time or that the Company’s securities will
continue to be listed on The NASDAQ Stock Market. Additional risk
factors are included in the Company’s Annual
Report on Form 10-K. We can give no assurance that any goal, plan or
target set forth in forward-looking statements can be achieved and
readers are cautioned not to place undue reliance on such statements,
which speak only as of the date made. We undertake no obligation to
release publicly any revisions to forward-looking statements as a result
of future events or developments.
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