MOUNTAIN VIEW, Calif., Dec. 26 /PRNewswire-FirstCall/ -- Ditech Networks, Inc. today announced that it has received a Nasdaq Staff Determination stating that the company is not in compliance with Marketplace Rule 4310(c)(14) because it has not timely filed its Quarterly Report on Form 10-Q for the quarter ended October 31, 2006, and, therefore, that its securities are subject to delisting from The Nasdaq Global Market.
Ditech Networks has requested a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination. Pending a decision by the Nasdaq Listing Qualifications Panel, Ditech Networks' common stock will remain listed on The Nasdaq Global Market. There can be no assurance that the Panel will grant the company's request for continued listing.
About Ditech Networks
Ditech Networks supplies voice processing equipment for telecommunication networks around the world. Ditech Networks' solutions incorporate advanced voice processing, Session Initiation Protocol (SIP), and security technologies delivered on carrier-grade, scalable platforms to enhance the delivery of communications services over mobile, Voice over IP, and wireline networks. Ditech Networks' customers are premier network operators including Verizon Wireless, Sprint/Nextel, Orascom Telecom, and others that collectively serve more than 150 million subscribers. Ditech Networks is headquartered in Mountain View, California. For more information, visit http://www.ditechnetworks.com/ .
