Pegasystems keeps Nasdaq listing for now

Cambridge-based Pegasystems Inc., a business-process software company, said its shares will remain listed on the Nasdaq, pending a decision from the exchange on the company's delayed filing of third-quarter financials.

Pegasystems is conducting an internal accounting review of the timing of revenue recognition for certain arrangements, including fixed-price services, and was unable to file its third-quarter report on time.

Last month, Pegasystems said that in the event of a restatement, it expects not more than $2 million of revenue previously reported would be deferred into the 2006 third quarter or future periods.
(AP)