Wireless Facilities Receives Expected Nasdaq Notice Related to Late Filing of Q2 FY2004 Form 10-Q
Wireless Facilities Receives Expected Nasdaq Notice Related to Late Filing of Q2 FY2004 Form 10-Q
August 16, 2004 at 12:00 AM EDT
As a result of the failure to file the 10-Q, the Company is currently not in compliance with the filing requirements for continued listing on NASDAQ as required by NASDAQ Marketplace Rule 4310©(14). The Company has appealed the delisting notification to the NASDAQ Listings Qualifications Panel and is currently in the appeals process. WFI's securities will remain listed pending a decision. In addition, the Company is continuing to work diligently to complete the restatement process and to comply with applicable NASDAQ rules. As a result of the Company's intention to file by September 3, the Company expects to become compliant with these rules prior to the completion of the appeals process.
About Wireless Facilities, Inc.
Headquartered in San Diego, CA, Wireless Facilities, Inc. is an independent provider of systems engineering, network services and technical outsourcing for the world's largest wireless carriers, enterprise customers and for government agencies. The company provides the design, deployment, integration, and the overall management of wired and wireless networks which deliver voice and data communication, and which support advanced security systems. WFI has performed work in over 100 countries since its founding in 1994. News and information are available at www.wfinet.com.
Notice Regarding Forward-Looking Statements
This news release contains certain forward-looking statements including, without limitation, express or implied statements concerning the Company's expectations regarding its ability to restate its financial statements in a timely manner that involve risks and uncertainties related to the timing of the Company's restated financial statements. Such statements are only predictions, and the Company's actual results may differ materially. Factors that may cause the Company's results to differ materially include, but are not limited to: risks that the review of prior year financial statements will result in adjustments, which may be material, that the Company does not currently anticipate and risks that the review and filing of the restated financial statements may be more complicated that currently expected and thus not completed in accordance with our expectations as to timing. A complete description of the Company's risk factors are more fully discussed in the Company's Annual Report on Form 10-K filed on March 8, 2004 and in other filings made with the Securities and Exchange Commission.
For further information, please contact: Investor/Media, Rochelle Bold, Senior VP of Corporate Development and Investor Relations of Wireless Facilities, Inc., +1-858-228-2649, rochelle.bold@wfinet.com.
CONTACT: Investor/Media, Rochelle Bold, Senior VP of Corporate Development and Investor Relations of Wireless Facilities, Inc., +1-858-228-2649, rochelle.bold@wfinet.com/ /Web site: http://www.wfinet.com / "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Wireless Facilities, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.