Cray Faces Delisting Due To 10-K Delay

Supercomputer maker Cray Inc. announced it has received a notice from the Nasdaq Stock Market stating that the company isn't complying with the requirements of Nasdaq Marketplace Rule 4310(c)(14). The reason is Cray's failure to file its annual Form 10-K report for the fiscal year ended Dec. 31, 2005, on a timely basis.

EE Times
April 10, 2006 11:59 AM

MANHASSET, N.Y. — Supercomputer maker Cray Inc. announced that it received a notice from the Nasdaq Stock Market stating the company is not complying with the requirements of Nasdaq Marketplace Rule 4310(c)(14), due to Cray's failure to file its annual Form 10-K report for the fiscal year ended Dec. 31, 2005, on a timely basis.

Cray has requested a hearing before a Nasdaq Listing Qualifications Panel to seek continued listing on the Nasdaq National Market until it files its Form 10-K for fiscal 2005.

On March 31, 2006, Cray announced that it would delay the filing of its 2005 Form 10-K pending the completion of a review of a non-cash item in 2004 of $3.3 million that could result in an adjustment to its 2004 financial statements.

Cray currently does not have an anticipated date of filing for the annual report.