WFI Receives Additional Extension From NASDAQ
SAN DIEGO, Jul 27, 2007 (PrimeNewswire via COMTEX News Network) --
WFI (Nasdaq:WFII), today announced that it received a letter dated July 23, 2007 from the NASDAQ Listing Qualifications Panel (the "Panel") granting the Company's request for an extension to continue the listing of the Company's common stock on the NASDAQ Stock Market. The extension is subject to the Company filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2006 and its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2007 by September 10, 2007. The Panel has advised the Company that should it be unable to meet the deadline, the Company's shares will be delisted from the NASDAQ Stock Market unless the Nasdaq Listing and Hearings Review Council issues a stay of delisting.
About WFI
Headquartered in San Diego, CA, WFI is a leading provider of professional services in the areas of defense, technology, and security solutions. WFI specializes in IT services, command, control, communications, computers and Intelligence (C4I), weapon systems operations and maintenance, and security and surveillance solutions. WFI performs work for a range of federal government agencies, including the U.S. Department of Defense, various state and local agencies, and Fortune 1000 enterprise companies. News and information are available at www.wfinet.com. (code: WFI-mb)
Notice Regarding Forward-Looking Statements
This news release contains certain forward-looking statements including, without limitation, expressed or implied statements concerning the Company's expectations regarding the Company's continued listing on the Nasdaq Global Market. Such statements are only predictions, and the Company's actual results may differ materially. Factors that may cause the Company's results to differ include, but are not limited to: risks that the Company will not be able to file its required reports with the SEC by the deadlines established by the NASDAQ and therefore become subject to delisting; risks that the review and the announcement thereof will cause disruption of the Company's operations and distraction of its management; risks that the review will identify other issues not currently being considered that could delay or alter the results of the review; risks of adverse regulatory action or litigation; risk that the Company's lender will declare a default under the Company's line of credit. The Company undertakes no obligation to update any forward-looking statements. These and other risk factors are more fully discussed in the Company's Quarterly Report on Form 10-Q for the period ended September 30, 2006 and in other filings made with the Securities and Exchange Commission.
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: WFI
Ashton Partners Press Contact: Mike Banas 312-553-6704 Investor Contact: Bryan Raassi 877-934-4687 investor@wfinet.com
(C) Copyright 2007 PrimeNewswire, Inc. All rights reserved.
News Provided by COMTEX