Tekelec To Appear Before Nasdaq, Says Review Has Found Errors
Posted April 20, 2006 7:56 a.m. EDT
MORRISVILLE, N.C. — Representatives of telecom gear manufacturer
(Nasdaq: TKLC) will appear before a Nasdaq qualifications panel today as it fights to prevent being delisted from the exchange.
Tekelec could be delisted since it has failed to file reports with the Securities and Exchange Commission regarding 2005 financial information. The company announced in March that it was reviewing its financial statements.
"Although the Company has not yet completed its review and analysis of various accounting matters or their impact on the Company's prior financial statements, including the revenue recognition matters previously disclosed, as of today there are five categories of errors that the Company expects to address in the restatement of its financial statements," Tekelec said in a statement