Biomet retains listing, gets additional notice
Biomet (Warsaw, Indiana) reported that a NASDAQ Listing Qualifications Panel has granted its request for continued listing on the Global Select Market, despite not being able to timely file Form 10-Q for the quarter ended Nov. 30, 2006. Biomet said continued listing is subject to certain conditions, including becoming current in its delinquent periodic reports and filing any restatements of historical financials by May 29.
Biomet said it intends to comply with requirements of the extension but offered no guarantee that it will be able to complete these filings prior to the May 29 deadline and that if it receives no additional extension it could be delisted.
The company also reported receiving an additional notice of non-compliance due to the previously disclosed delay in filing its Form 10-Q for the quarter ended Feb. 28, 2007, but that it has been invited to make an additional submission to the panel with plans for making the filing. Biomet said it intends to make the requested submission and request a further extension for the filing.
Biomet and its subsidiaries make products used primarily by musculoskeletal medical specialists in both surgical and non-surgical therapy.