Business Context and Reporting Period
Company: AVIAT NETWORKS, INC.
Filing Type: Form 8-K (Current Report)
Date of Report: September 26, 2014
Reporting Period: The filing addresses a compliance issue regarding the Annual Report on Form 10-K for the fiscal year ended June 27, 2014.
Key Financial Metrics
This filing is a notice of delisting risk and does not contain financial performance data. The text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
Listing Status Change: On September 26, 2014, the Company received a notice from The NASDAQ Stock Market stating it is no longer in compliance with NASDAQ Listing Rule 5250(c)(1).
Reason for Non-Compliance: Failure to timely file the Annual Report on Form 10-K for the fiscal year ended June 27, 2014.
Outlook, Risks, and Management Commentary
- Compliance Plan: The Company has 60 calendar days from September 26, 2014, to submit a plan to regain compliance to NASDAQ.
- Potential Extension: If the plan is accepted, NASDAQ may grant up to 180 days from the original due date to file the Form 10-K and regain compliance.
- Appeal Rights: If the plan is rejected, the Company retains the right to appeal the decision to a NASDAQ Hearings Panel.
- Public Disclosure: A press release announcing the receipt of the Notice was issued on September 30, 2014.
Investor Verification Checklist
- Verify the current status of the Form 10-K for the fiscal year ended June 27, 2014.
- Monitor the submission of the compliance plan to NASDAQ within the 60-day window.
- Track any subsequent communications from NASDAQ regarding the acceptance or rejection of the compliance plan.
- Review the attached press release (Exhibit 99.1) for additional management commentary.