Aviat Networks notified of delay in 10-K filing.
M2 EQUITYBITES-October 1, 2014-Aviat Networks notified of delay in 10-K filing
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Aviat Networks, Inc. (NASDAQ: AVNW) said it has received an expected standard notice from NASDAQ stating that Aviat is not in compliance with the Rule 5250(c)(1) that requires timely filing of reports with the Securities and Exchange Commission.
The September 26, 2014 letter was sent as a result of Aviat's delay in filing its Annual Report on Form 10-K for its fiscal year ended June 27, 2014, which Aviat initially announced via a Form 8-K filing on September 25, 2014.
The NASDAQ notice has no immediate effect on the listing or trading of Aviat's common stock on the NASDAQ Global Select Market. Under NASDAQ's listing rules, Aviat has 60 calendar days from the date of the letter to submit a plan to regain compliance. If the plan is accepted, Aviat can be granted an exception of up to 180 calendar days from the Form 10-K's due date, or until March 24, 2015, to regain compliance. Aviat expects to submit a plan to regain compliance within the timeline prescribed by NASDAQ.
Aviat Networks is a leading global provider of microwave networking solutions transforming communications networks to handle the exploding growth of IP-centric, multi-Gigabit data services. For more information, visit www.aviatnetworks.com
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