Pegasystems receives filing extension from Nasdaq
Shares of Pegasystems Inc. (Nasdaq: PEGA) inched upwards in after-hours trading today on the news that Nasdaq has given the company another extension on the filing of its 2006 annual report.
As long as the company files the 10-K with the U.S. Securities and Exchange Commission by May 10 it will not be delisted from Nasdaq.
Pegasystems said it plans to file the report with the SEC “next week,” and regain compliance with the filing requirement for continued listing on the Nasdaq Global Select Market at that time.
In March, the Cambridge, Mass.-based business process software maker said it received notice from Nasdaq officials that it had missed the March 20, 2007, deadline for filing its form 10-K for 2006. Nasdaq then extended the deadline until April 25.
Separately, in October, Pegasystems announced a delay in the filing of its 10-Q report for the 2006 third quarter. At the time, first said it was in the process of reviewing its accounting, primarily involving the timing of revenue recognition for certain arrangements which include fixed-price services.
Pegasystems filed the 10-Q report on April 25. Also on April 25, Pegasystems announced it expects total 2006 revenue to be approximately $126 million and for the company to be profitable.
Shares of Pegasystems’ stock rose by $0.09, or .94%, to $9.90 late today. The stock has traded between $6.19 (on June 30) and $10.61 (on Nov. 15) in the past year.
