Witness (NASDAQ:WITS)
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Witness Systems, Inc. (NASDAQ: WITS) today announced that the Nasdaq
Listing Qualifications Panel (the “Panel”)
has granted the company’s request for
continued listing on The Nasdaq Stock Market in a letter dated November
9, 2006. The Panel granted the company’s
request for continued listing subject to the requirements that the
company (i) by no later than December 18, 2006, provide the Nasdaq
Hearing Department with certain additional information and (ii) by no
later than January 19, 2007, file its Quarterly Reports on Form 10-Q for
the quarters ended June 30, 2006 and September 30, 2006. The Panel has
advised the company that if the company is unable to meet these
conditions, the company’s securities may be
delisted from The Nasdaq Stock Market.
About Witness Systems
Witness Systems (NASDAQ: WITS) is the worldwide leader in software and
services that help businesses capture customer intelligence and optimize
their workforce performance. The company’s
Impact 360™ solution
unifies quality monitoring, compliance and IP recording, workforce
management, performance management and eLearning. Primarily deployed in
contact centers – as well as the remote,
branch and back offices of global organizations –
the workforce optimization solution captures, analyzes and enables users
to share and act on cross-functional information across the enterprise.
With Impact 360, organizations can improve interactions and the
underlying back-office processes that enhance the customer experience
and build customer loyalty. For more information, visit us at www.witness.com.
Cautionary Note Regarding Forward-looking Statements: Information
in this release that involves Witness Systems’
expectations, plans, intentions or strategies regarding the future are
forward-looking statements that are not facts and involve a number of
risks and uncertainties. They are identified by words such as “anticipates,”
“expects,” “intends,”
“plans,” “believes,”
“estimates,” and
similar expressions. These risks and uncertainties include, but are not
limited to, the possibility that the special committee, in consultation
with its advisers, will determine that the proper accounting for the
company’s prior stock option grants differs
from the accounting treatment upon which the assumptions and
forward-looking statements in this release are based; that the scope of
the issues as to the timing and accuracy of measurement dates for option
awards and the timing of formal corporate approvals may change; that the
amount and timing of additional stock-based compensation expenses and
other additional expenses to be recorded in connection with affected
option grants, and any corresponding adjustments to our financial
statements, may change based upon the special committee’s
ongoing analysis; that our ability to file required reports with the SEC
on a timely basis may be impaired; that our ability to meet the
requirements of the NASDAQ Stock Market for continued listing of our
shares may be impaired; that potential claims and proceedings may arise
relating to such matters, including possible litigation and action by
the SEC or other governmental entities, that might impact the outcome of
the special Committee’s review; that other
actions may be taken or required as a result of the special committee’s
review; and that the anticipated accounting adjustments and other
factors described above could have negative tax or other implications
for the company. Other factors that could cause actual future results to
differ materially from current expectations include fluctuations in
customer demand and the timing of orders; the company's ability to
manage its growth; the risk of new product introductions and customer
acceptance of new products; the rapid technological change which
characterizes the company's markets; the risks associated with
international sales as the company expands its markets, including the
risks associated with foreign currency fluctuations; the ability of the
company to complete and integrate successfully any acquisitions or
investments it may make; and the ability of the company to compete
successfully in the future, as well as other risks identified under the
caption “Management's Discussion and Analysis
of Financial Condition and Results of Operations”
in the company's Form 10-K for the year ended December 31, 2005 and its
Form 10-Q for the quarter ended March 31, 2006, as filed with the
Securities and Exchange Commission.
The forward-looking statements in this release are based upon
information available to Witness Systems as of the date of this release,
and the company assumes no obligation to update any such forward-looking
statement. Forward-looking statements believed true when made may
ultimately prove to be incorrect. These statements are not guarantees of
future performance and are subject to risks, uncertainties and other
factors, some of which are beyond our control and may cause actual
results to differ materially from our current expectations.
Witness, Impact 360, Improve Everything and the Witness logo are the
trademarks (registered or otherwise) of Witness Systems, Inc. protected
by laws of the U.S. and other countries. All other trademarks mentioned
in this document are the property of their respective owners.
Witness Systems, Inc. (NASDAQ: WITS) today announced that the
Nasdaq Listing Qualifications Panel (the "Panel") has granted the
company's request for continued listing on The Nasdaq Stock Market in
a letter dated November 9, 2006. The Panel granted the company's
request for continued listing subject to the requirements that the
company (i) by no later than December 18, 2006, provide the Nasdaq
Hearing Department with certain additional information and (ii) by no
later than January 19, 2007, file its Quarterly Reports on Form 10-Q
for the quarters ended June 30, 2006 and September 30, 2006. The Panel
has advised the company that if the company is unable to meet these
conditions, the company's securities may be delisted from The Nasdaq
Stock Market.
About Witness Systems
Witness Systems (NASDAQ: WITS) is the worldwide leader in software
and services that help businesses capture customer intelligence and
optimize their workforce performance. The company's Impact 360(TM)
solution unifies quality monitoring, compliance and IP recording,
workforce management, performance management and eLearning. Primarily
deployed in contact centers - as well as the remote, branch and back
offices of global organizations - the workforce optimization solution
captures, analyzes and enables users to share and act on
cross-functional information across the enterprise. With Impact 360,
organizations can improve interactions and the underlying back-office
processes that enhance the customer experience and build customer
loyalty. For more information, visit us at www.witness.com.
Cautionary Note Regarding Forward-looking Statements: Information
in this release that involves Witness Systems' expectations, plans,
intentions or strategies regarding the future are forward-looking
statements that are not facts and involve a number of risks and
uncertainties. They are identified by words such as "anticipates,"
"expects," "intends," "plans," "believes," "estimates," and similar
expressions. These risks and uncertainties include, but are not
limited to, the possibility that the special committee, in
consultation with its advisers, will determine that the proper
accounting for the company's prior stock option grants differs from
the accounting treatment upon which the assumptions and
forward-looking statements in this release are based; that the scope
of the issues as to the timing and accuracy of measurement dates for
option awards and the timing of formal corporate approvals may change;
that the amount and timing of additional stock-based compensation
expenses and other additional expenses to be recorded in connection
with affected option grants, and any corresponding adjustments to our
financial statements, may change based upon the special committee's
ongoing analysis; that our ability to file required reports with the
SEC on a timely basis may be impaired; that our ability to meet the
requirements of the NASDAQ Stock Market for continued listing of our
shares may be impaired; that potential claims and proceedings may
arise relating to such matters, including possible litigation and
action by the SEC or other governmental entities, that might impact
the outcome of the special Committee's review; that other actions may
be taken or required as a result of the special committee's review;
and that the anticipated accounting adjustments and other factors
described above could have negative tax or other implications for the
company. Other factors that could cause actual future results to
differ materially from current expectations include fluctuations in
customer demand and the timing of orders; the company's ability to
manage its growth; the risk of new product introductions and customer
acceptance of new products; the rapid technological change which
characterizes the company's markets; the risks associated with
international sales as the company expands its markets, including the
risks associated with foreign currency fluctuations; the ability of
the company to complete and integrate successfully any acquisitions or
investments it may make; and the ability of the company to compete
successfully in the future, as well as other risks identified under
the caption "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in the company's Form 10-K for
the year ended December 31, 2005 and its Form 10-Q for the quarter
ended March 31, 2006, as filed with the Securities and Exchange
Commission.
The forward-looking statements in this release are based upon
information available to Witness Systems as of the date of this
release, and the company assumes no obligation to update any such
forward-looking statement. Forward-looking statements believed true
when made may ultimately prove to be incorrect. These statements are
not guarantees of future performance and are subject to risks,
uncertainties and other factors, some of which are beyond our control
and may cause actual results to differ materially from our current
expectations.
Witness, Impact 360, Improve Everything and the Witness logo are
the trademarks (registered or otherwise) of Witness Systems, Inc.
protected by laws of the U.S. and other countries. All other
trademarks mentioned in this document are the property of their
respective owners.