Brooks Not Subject to Nasdaq Delisting
Staff Reporter -- EDN, August 16, 2006
Brooks Automation Inc. has narrowly escaped Nasdaq delisting. The company reported Tuesday that it had filed an amended quarterly report on Form 10-Q with the Securities and Exchange Commission (SEC) for Q1 fiscal 2006, which ended December 31, 2005, just under the August 15 deadline.
Brooks also filed its amended annual report on Form 10-K for the year ended September 30, 2005, recording an extra $64.5 million compensation expense. The company has further filed its quarterly reports on form 10-Q for each of the fiscal quarters ended on March 31 and June 30.
In July, Brooks received notice from the Nasdaq that its common stock would be delisted unless the company filed Form 10-Q along with all requested restatements on or prior to August 15.
Brooks is one of a number of tech companies that has faced the task of restating finances due to fallout from the industry's current stock options probe. Among the other companies affected are Asyst, which delayed its 10-K filing in late July, Apple, which delayed its form 10-Q last week, and PMC-Sierra, which delayed its 10-Q earlier this week. Amkor has also delayed its 10-Q and is now facing pressure from banks and the Nasdaq about its stock practices.
