Altera Gets Second Notice from Nasdaq Exchange

Staff Reporter -- Electronic News, 8/17/2006

Altera has received a second notice saying the company is not in compliance with Nasdaq rules because it has not filed its quarterly reports on time.

The San Jose-based programmable logic company said that the notice was expected and such notices are routinely issued to all Nasdaq-listed companies when required periodic filings have not been made with the SEC on a timely basis.

Altera noted that the Nasdaq Listing Qualifications Panel has granted the company’s request for continued listing, subject to certain conditions. Those include filing the company’s Form 10-Q for the period ended March 31 on or before Sept. 14, and filing of the company’s Form 10-Q for the period ended June 30 on or before Sept. 28.Another condition is submission of additional information regarding the company’s internal review of its historical stock option practices and related accounting.

Altera offers programmable chips, such as field programmable gate arrays (FPGAs) to enable system and semiconductor companies to perform rapid development.