Matrixone (NASDAQ:MONEE)
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MatrixOne, Inc. (NASDAQ: MONEE), a leading provider of
collaborative product lifecycle management (PLM) solutions for the
value chain(TM), today announced that it has received notice from the
Nasdaq Listing Qualifications Panel (the "Panel") granting the Company
an additional extension for continued listing on The Nasdaq National
Market, subject to certain conditions. The Panel's determination is
subject to the Company providing a public disclosure by October 17,
2005 as to the status of the Company's previously announced audit
committee review, the estimated range of the related restatements, and
the Company's projected filing dates with the Securities and Exchange
Commission ("SEC") for its Quarterly Report on Form 10-Q for the
quarter ended April 2, 2005 ("Form 10-Q"), its Annual Report on Form
10-K for the fiscal year ended July 2, 2005 ("Form 10-K"), and all
required restatements. The Panel's determination is also subject to
the condition that the Company file with the SEC its Form 10-Q, Form
10-K and all required restatements, on or before November 8, 2005, as
permitted under Marketplace Rules governing additional extensions. The
Panel also conditioned the continued listing on the Company's ability
to demonstrate compliance with all other requirements for continued
listing on The Nasdaq National Market once it regains compliance with
Nasdaq's filing requirements.
The Panel had previously granted the Company an exception until
September 30, 2005 to file with the SEC its Form 10-Q, Form 10-K and
all required restatements. In a press release issued by the Company on
September 29, 2005, the Company announced that it was requesting an
additional extension from the Panel for the filing of these periodic
reports. The Company requested an additional extension in a letter to
the Panel dated September 30, 2005. The Company subsequently received
a Nasdaq Staff Determination letter indicating that the Company was
not in compliance with the Nasdaq requirements for continued listing
set forth in Nasdaq Marketplace Rule 4310(c)(14) with respect to the
Company's failure to file its Form 10-K with SEC. As previously
announced, upon the filing of the periodic reports referenced above,
the Company expects to be in compliance with Nasdaq's requirements for
continued listing. The fifth character "E" will remain appended to the
Company's symbol pending a final determination that the Company is
fully compliant with Nasdaq's filing requirements.
About MatrixOne
MatrixOne, Inc. (NASDAQ: MONEE), a leading global provider of
collaborative product lifecycle management (PLM) software and
services, enables companies to accelerate product innovation to
achieve top line revenue growth and improve bottom line profitability.
With world-class PLM solutions and a commitment to customer success,
MatrixOne is focused on helping companies across the automotive,
aerospace & defense, consumer, machinery, medical device,
semiconductor and high-tech industries solve their most challenging
new product development and introduction problems. More than 800
companies use MatrixOne's solutions to drive business value and gain a
competitive advantage, including industry leaders such as BAE Systems,
Bosch, Comau, General Electric, Honda, Johnson Controls, Linde AG,
NCR, Nokia, Philips, Porsche, Procter & Gamble, Sony Ericsson,
STMicroelectronics and Toshiba. MatrixOne (www.matrixone.com) is
headquartered in Westford, Massachusetts, with locations throughout
North America, Europe and Asia-Pacific.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 - Forward-looking statements in this release do not
constitute guarantees of future performance. Such forward-looking
statements are subject to risks and uncertainties that could cause our
actual results to differ materially from those anticipated. Such
statements relate, among other things, to our expected compliance with
Nasdaq requirements for continued listing. The risks and uncertainties
that may affect forward-looking statements include, among others: the
continued listing of our common stock on the NASDAQ Stock Market,
unforeseen issues encountered in the review of our revenue recognition
practices, and the completion of our audit for the fiscal year ended
July 2, 2005. For a more detailed discussion of the risks and
uncertainties of our business, please refer to our periodic reports
and registration statements filed with the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the fiscal
year ended July 3, 2004, our Registration Statement on Form S-3 filed
on September 29, 2004 as amended, and our Quarterly Report on Form
10-Q for the fiscal quarter ended January 1, 2005. However, the
financial statements and other financial information therein may not
be relied upon until the restatement process and related audit are
completed. The forward-looking statements included in this press
release represent our views as of the date of this press release. We
anticipate that subsequent events and developments may cause our views
to change. We assume no obligation to update any forward-looking
information contained in this press release or with respect to the
announcements described herein.
MatrixOne and the MatrixOne logo are registered trademarks, and "a
leading provider of collaborative product lifecycle management (PLM)
solutions for the value chain" is a trademark of MatrixOne, Inc. All
other trademarks and service marks are the property of their
respective owners.