iBasis in compliance with Nasdaq rules

iBasis Inc. said today that it has been informed by the Nasdaq Stock Market that it is in compliance with the market's listing rules.

The Burlington-based provider of Internet telephone services had previously announced that it had received notice that it was not in compliance with Nasdaq listing requirements due to its failure to file periodic financial results.

That failure was the result of discrepancies in measurement dates for determining the accounting treatment of certain stock option grants.

Last month, iBasis said it filed its annual report for 2006 after restating results for the prior two years due to stock-options backdating.
(By Chris Reidy, Globe staff)