Coherent Inc. has filed its 2006 financial report but will be delisted by Nasdaq if it does not file its past three quarterly statements by Monday, the laser and optics products maker said Tuesday.
Coherent has delayed filing its reports as it reviewed past stock-option practices and related accounting. It said in December 2006 that the Securities and Exchange Commission launched a review of its past stock option grant practices and it has received noncompliance letters from Nasdaq.
Nasdaq notified the company that it must file the 2007 quarterly statements by Dec. 17 to avoid suspension of trading and delisting of its shares.
The company reiterated its expectation to file the reports no later than Jan. 31. Coherent said it is "exploring alternatives" to prevent a trading suspension and delisting but cannot assure their success.
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