Nasdaq gives Cray delisting warning

Nasdaq warned Cray on Friday that its failure to file an annual report by a March 31 deadline means its stock no longer qualifies for listing on the market, the supercomputer maker said Monday. Cray said in March that it would delay the filing to review whether as much as $3.3 million in revenue from a product development contract had been recorded improperly.

Nasdaq said the stock would be delisted on April 13, but Cray requested an appeal hearing, and the stock will remain listed pending the hearing decision, the company said. Cray "currently does not have an anticipated date of filing for the annual report, but continues to work as expeditiously as possible with the external auditors to complete the review," the company said in a statement.

[fred dunn]

Sad but inevitable...

Cray once the supercomputer giant standing tall above others is now relegated to just another player in a target market moving too fast for it.

[greigmg]

not delisted because of slow business

They're not being delisted because business is slow - the NASDAQ has rules to acquire and maintain a listing. The article specifically says the company received the warning for failure to file its annual report on time.