Navigant (NASDAQ:FLYRE)
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- Shares Will Continue to Trade on Nasdaq National Market
Pending a Decision by Nasdaq Listing Qualifications Panel -
Navigant International, Inc. (Nasdaq: FLYRE), the second largest
provider of corporate travel management services in the United States
based on airline tickets sold, announced today that it has presented a
revised compliance plan to the Nasdaq National Market requesting
continued listing, provided that the Company files its Form 10-K
Report for the period ended December 26, 2004 and its Form 10-Q Report
for the period ended March 27, 2005 on or before July 29, 2005.
Nasdaq's previous deadline for the filings was June 17, 2005. Nasdaq
has informed the Company that it will remain listed on the Nasdaq
National Market pending a determination of the Nasdaq Listing
Qualifications Panel. There can be no assurance the Panel will grant
the Company's request for an extension.
About Navigant International, Inc.
Denver-based Navigant International, Inc., doing business as
TQ3NAVIGANT, is the second largest corporate travel management
business services provider in North America, based on airline tickets
sold, serving corporate, government, military, leisure, and meetings
and incentive clients. The Company's "bricks and clicks" end-to-end
travel solutions include corporate travel pattern analysis and
ReportFLYR powered reporting tools; travel policy development;
consulting on cost saving opportunities; airline ticket, hotel and car
rental reservations; meeting and convention planning; and leisure
travel products. The Company currently employs more than 5,100
Associates and has operations in 1,000 locations in 20 countries and
U.S. territories.
This news release contains forward-looking statements, including
statements about the Company's financial results, high leverage of
debt to equity, transaction volumes, growth strategies and
opportunities, the integration of prior or potential future
acquisitions, and general industry or business trends or events.
Investors are cautioned that any such forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties. Actual events or results may differ materially from
those discussed in the forward-looking statements as a result of
various factors, including, without limitation, our significant
indebtedness and variable interest payment obligations, restrictions
in our credit facility on our ability to finance future operations or
capital needs, disruptions in the travel industry such as those caused
by terrorism, war or general economic downturn, competition, our
ability to continue to acquire and integrate potential future
acquisitions, our ability to manage our business and implement growth
strategies, failure of technology on which we rely, other risks
described in the Company's annual report on Form 10-K for the year
ended December 28, 2003, and the risk factors detailed from time to
time in the Company's SEC reports, including the reports on Forms 10-K
and 10-Q. The forward-looking statements made herein are only as of
the date of this press release, and the Company undertakes no
obligation to publicly update such forward-looking statements to
reflect subsequent events or circumstances.