Perle Systems Limited Announces Receipt of Nasdaq Panel Determination
TORONTO--(BUSINESS WIRE)--March 28, 2002--Perle Systems Limited (Nasdaq: PERL/TSE: PL) announced today that it received the decision of the Nasdaq Listing Qualifications Panel to delist the Company's common shares from the Nasdaq Stock Market, due to the Company no longer complying with the requirements for continued listing. This action will be effective with the opening of business on Monday, April 1, 2002. The Company's common shares are immediately eligible to trade on the OTC Bulletin Board.
Notwithstanding this change in market status, management remains focused on ensuring that the restructuring strategy it has implemented will continue to produce operating profits and is continuing to work towards its previously announced cash earnings per share forecasts of US$0.14 to US$0.16 for fiscal 2002.
The Company's listing on the Toronto Stock Exchange remains unaffected by this development.
Perle is a leading developer, manufacturer and vendor of award-winning networking products. These products are used to connect remote users reliably and securely to central servers for a wide variety of e-business and general business applications. Perle specialises in Internet Protocol (IP) connectivity applications, with an increasing focus on mid-size IP routing solutions. Product lines include routers, remote access servers, serial servers, multi-port serial cards and network controllers. Perle distinguishes itself by its ownership of extensive networking technology, depth of experience in major network connectivity environments and channel relationships in major world markets. Perle has offices in 9 countries and sells its products through distribution channels worldwide. Its common shares are traded on The Nasdaq Stock Market (symbol PERL) and The Toronto Stock Exchange (symbol PL).
For further information about Perle and its products, access the Company's Web site at perle.com.
CONTACT:
Perle Systems Limited
Derrick Barnett, 905/946-5034
Fax: 905/944-2116
dbarnett@perle.com
or
FitzGerald Communications
Robert M. Joyce (IR), 888/494-9501 ext. 298
Fax: 617-488-9501
bjoyce@fitzgerald.com
KEYWORD: INTERNATIONAL CANADA
BW2437 MAR 28,2002
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