Banyan Systems to Continue Listing On Nasdaq National Market.WESTBORO, Mass.--(BUSINESS WIRE)--Feb. 2, 1998--Banyan Systems Incorporated (Nasdaq:BNYN BNYN ePresence (stock symbol; formerly known as Banyan) ) today announced that it was officially informed by Nasdaq that the Company is in compliance with Nasdaq's continued listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. to remain on the Nasdaq National Market, based on a review of the Company's Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. , which was filed on January 28, 1998 with the Securities and Exchange Commission. William P. Ferry, chairman and chief executive officer, stated, "Banyan's continued listing on the Nasdaq National Market sends a positive message to our customers, shareholders, employees and other key business partners. We are proud of the tremendous strides we have taken during 1997 to significantly enhance all areas of the company's operations, improve our financial results and strengthen our balance sheet. We are clearly focused on opportunities in our networking and Switchboard businesses to rejuvenate re·ju·ve·nate tr.v. re·ju·ve·nat·ed, re·ju·ve·nat·ing, re·ju·ve·nates 1. To restore to youthful vigor or appearance; make young again. 2. Banyan's growth and build greater shareholder value." The Company noted that each of the above forward-looking statements including without limitation the plans for the Company's business and the impact of the Company's increased investment in Switchboard were subject to change based on various important factors, including, without limitation, competitive actions in the marketplace, buying trends by businesses, the success of the Company's new Year 2000 Readiness program and consulting services and the ability of Switchboard to increase revenues. Further information on potential factors which could affect the Company's financial results are included in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the 1996 fiscal year, which was filed with the SEC at the end of March 1997, and in the Company's Form 10-Q Form 10-Q See 10-Q. for the period ended September 30, 1997, which was filed with the SEC in November 1997. About Banyan Systems Incorporated: Over eight million business users, including over half the Fortune 1000, depend on Banyan technology and solutions. Banyan Systems (Nasdaq:BNYN) is a pioneer and leader in providing proven, standards-based networking directory and messaging products. Coupled with professional and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , these unique offerings provide solutions to help people communicate simply and easily across enterprise networks, intranets and the Internet. Founded in 1983 and headquartered in Westboro, Massachusetts, USA, the Company markets products worldwide through authorized network integrators, resellers and international distributors. Banyan can be reached on the World Wide Web at http//www.banyan.com. CONTACT: Banyan Systems Incorporated Richard M. Spaulding or John P. Mitchell Vice President and CFO See Chief Financial Officer. Corporate Controller (508) 871-2271 (508) 871-2271 |
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