Pegasystems gets extension

Business-process software company Pegasystems Inc. said today that the Nasdaq Stock Market granted it an additional extension to file its delayed financial results.

The company said it received a letter from Nasdaq warning that it had not filed its 2006 results by the March 16 deadline. The letter stated the Nasdaq listing qualifications panel would consider the delay as it evaluates Pegasystems' continued listing on Nasdaq's Global Select Market.

In November, the company received a Nasdaq letter regarding its delayed third-quarter results. Earlier this month Pegasystems was given an extension to file the quarterly report on the condition that it file the delayed report and any required restatements by March 16. The panel later extended that deadline to April 25, at the company's request.

On March 5 the company said it would restate financial reports for fiscal 2001 through 2005 and the first half of last year to correct the timing of revenue recognition.

Pegasystems said it continues to work to regain compliance with Nasdaq's listing requirements. (AP)