Sonus (SONS) tacks on another delisting notice from the Nasdaq.
For the second quarter in a row the Chelmsford, Mass., Internet phone-switch maker has received a letter notifying the company that it is in violation of Nasdaq guidelines for failing to file financial reports on time.
Sonus is undergoing a review of its stock option practices after the company discovered it had backdated some employee grants. The company's books may have to be redone, and in the meantime it has been unable to file reports for the past two quarters.
The company says it met with Nasdaq officials in September to try and work out a compliance plan. The Nasdaq has not made any determination yet to have the company delisted.
Sonus says it's "committed to preparing and filing" its reports for the second and third quarters of 2006 and "any required restated financial statements as soon as practicable."
The company received its first delisting warning in August.
Sonus shares fell a penny to $5.20 in after hours trading.