Mercury Granted Extension from NASDAQ
30 Novembre 2005 - 2:15AM
PR Newswire (US)
MOUNTAIN VIEW, Calif., Nov. 29 /PRNewswire-FirstCall/ -- Mercury
Interactive Corporation (NASDAQ:MERQE) today announced that the
NASDAQ Listing Qualifications Panel has granted the Company an
extension of time until January 3, 2006 in which to file its
quarterly reports on Form 10-Q for the periods ended June 30, 2005
and September 30, 2005, all required restated and other financial
statements for previous periods, and to otherwise meet all
necessary listing standards of The NASDAQ National Market. The
latest extension was granted as a result of a revised plan of
compliance submitted by the Company to the Panel on November 15,
2005. It is a requirement of the Panel's decision that through
January 3, 2006, the Company provide prompt notification to the
Panel of any significant events that occur during this time,
including any event that may call into question the Company's
historical financial information or that may impact the Company's
ability to maintain compliance with any NASDAQ listing requirement
or the January 3, 2006 deadline. In addition, any compliance
document prepared by the Company will be subject to review by the
Panel, which may, in its discretion, request additional information
before determining that the Company has complied with the terms of
the Panel's decision. There can be no assurance that the Company
will be able to meet the January 3, 2006 deadline established by
the Panel. In granting the Company's request, the Panel noted that
it would not entertain further extension requests should the
Company be unable to make its filings by the January 3, 2006
deadline. If the Company is unable to comply with the conditions
for continued listing required by the Panel, the Company's shares
of common stock are subject to immediate delisting from The NASDAQ
National Market. The Company would have the option to request that
the NASDAQ Listing and Review Council review any decision to delist
its shares from The NASDAQ National Market, but cannot provide any
assurance that its request would be successful. Any such request
would not stay a decision to delist the Company's shares. During
the extension period, the Company's common stock will continue to
be listed on The NASDAQ National Market under the trading symbol:
MERQE. About Mercury Mercury Interactive Corporation
(NASDAQ:MERQE), the global leader in business technology
optimization (BTO) software, is committed to helping customers
optimize the business value of information technology. Founded in
1989, Mercury conducts business worldwide and is one of the largest
enterprise software companies today. Mercury provides software and
services for IT Governance, Application Delivery, and Application
Management. Customers worldwide rely on Mercury offerings to govern
the priorities, processes and people of IT and test and manage the
quality and performance of business-critical applications. Mercury
BTO offerings are complemented by technologies and services from
global business partners. For more information, please visit
http://www.mercury.com/. Forward Looking Statements This press
release contains "forward-looking statements" under the Private
Securities Litigation Reform Act of 1995 that involve risks and
uncertainties concerning Mercury's expected financial performance,
as well as Mercury's future business prospects and product and
service offerings. Mercury's actual results may differ materially
from the results predicted or from any other forward-looking
statements made by, or on behalf of, Mercury and reported results
should not be considered as an indication of future performance.
Potential risks and uncertainties include, among other things: 1)
the timing of completion of the Company's review, restatement and
filing of its historical financial statements and the filing of its
quarterly reports on Form 10-Q for the second and third quarters of
fiscal year 2005, 2) the impact of the expensing of stock options
and stock purchases under Mercury's employee stock purchase program
pursuant to Financial Accounting Standards Board's Statement 123
including, without limitation, the impact of the restatement, 3)
the impact of the resignations of Amnon Landan, Douglas Smith and
Susan Skaer, 4) the possibility that the trustee for Mercury's Zero
Coupon Senior Convertible Notes due 2008 (the 2003 Notes) and 4.75%
Convertible Subordinated Notes due 2007 (the 2000 Notes and,
together with the 2003 Notes, the Notes) or the holders of at least
25% of the outstanding principal amount of the 2000 or the 2003
Notes may, if the Company does not file its historical financial
statements and periodic reports by March 31, 2006, cause
acceleration of repayment of the entire principal amount and
accrued interest on such Notes, 5) the nature and scope of the
ongoing SEC investigation, 6) the substantial risk that the Company
will not be able to complete its quarterly reports on Form 10-Q for
the periods ended June 30, 2005 and September 30, 2005 and all
required restated and other financial statements for previous
periods by January 3, 2006 and, if the Company fails to complete
such reports by January 3, 2006 and is therefore delisted, that the
Company will not achieve relisting by The NASDAQ National Market,
7) the effect of any third party litigation arising out of the
Special Committee investigation, 8) costs incurred by Mercury in
connection with the Special Committee investigation and the SEC
investigation, 9) the mix of perpetual and term licenses and the
effect of the timing of recognition of revenue from products sold
under the term licenses, 10) the impact of the transition in
Europe, 11) the amount of restructuring charges incurred by Mercury
in the third quarter of fiscal year 2005, 12) dependence of
Mercury's growth on the continued success and acceptance of its
existing and new software products and services and on the success
of its BTO strategy, and 13) the additional risks and important
factors described in Mercury's SEC reports, including the Quarterly
Report on Form 10-Q for the fiscal quarter ended March 31, 2005,
which is available at the SEC's website at http://www.sec.gov/. All
of the information in this press release is made as of November 29,
2005, and Mercury undertakes no duty to update this information.
NOTE: Mercury, Mercury Interactive and the Mercury logo are
trademarks of Mercury Interactive Corporation and may be registered
in certain jurisdictions. Other product and company names are used
herein for identification purposes only, and may be trademarks of
their respective companies. DATASOURCE: Mercury Interactive
Corporation CONTACT: Investor Relations, Michelle Ahlmann,
+1-650-603-5200, or Public Relations, Dave Peterson,
+1-650-603-5200, both of Mercury Interactive Corporation Web site:
http://www.mercury.com/
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