SAN JOSE, Calif., June 14 /PRNewswire-FirstCall/ -- Foundry Networks(TM), Inc. , today announced that it has completed and filed with the SEC its Annual Report on Form 10-K for the year ended December 31, 2006. The Company also completed and filed with the SEC its previously delayed Quarterly Reports on Form 10-Q for the second and third quarters of fiscal 2006 and the first quarter of fiscal 2007. These filings contain financial statements that were restated as a result of an internal stock option review conducted by the Audit Committee of the Company's Board of Directors. Foundry's financial statement filings are now current.
With these filings and additional submissions previously delivered to NASDAQ, Foundry believes that it has now regained compliance with the requirements for continued listing on the NASDAQ Global Select Market; however, the Company awaits confirmation on compliance from NASDAQ.
Conference Call
Foundry Networks will host a conference call to further discuss these financial statements, today, Thursday, June 14, 2007 at 3:00 p.m. Pacific Time. Dial 800-894-5910 (domestic) or 785-424-1052 (international) to listen in to the call. The conference call ID is "Foundry". A live Webcast will also be made available at http://www.foundrynetworks.com/. A replay will be available approximately one hour after the call for seven days following the call's conclusion. To access the replay, dial 402-220-7337. A Web archive will be made available at http://www.foundrynetworks.com/ for 90 days following the call's conclusion.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by that section. These forward-looking statements include, without limitation, statements concerning Foundry's belief that it has now become current in its filings with the SEC and is compliant with NASDAQ rules governing its continued listing, and expectation that the Company will continue to be listed on the NASDAQ Global Select Market. Any forward-looking statements in this press release are only predictions and are subject to a number of risks and uncertainties which could cause actual results to differ materially, including, without limitation, other factors listed in Foundry's most recent reports on Form 10-K, 10-Q, and 8-K. Actual results could differ materially from those projected in our forward-looking statements. Investors should review the risk factors described in more detail in our most recent Annual Report on Form 10-K, 10-Q and other SEC reports available free of charge from Foundry at http://www.foundrynetworks.com/ or from the SEC at http://www.sec.gov/. Any projections in this release are based on limited information currently available to Foundry. Foundry assumes no obligation to update the forward-looking statements contained in this press release.
About Foundry Networks
Foundry Networks, Inc. is a leading provider of
high-performance enterprise and service provider switching, routing, security, and Web traffic management solutions including Layer 2/3 LAN switches, Layer 3 Backbone switches, Layer 4 - 7 application switches, wireless LAN and access points, access routers and metro routers. Foundry's customers include the world's premier ISPs, metro service providers, and enterprises including e-commerce sites, universities, entertainment, health and wellness, government, financial, and manufacturing companies. For more information about the company and its products, call 1.888.TURBOLAN or visit http://www.foundrynetworks.com/.
