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Technology Stocks : iBasis, Inc.

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To: Jim Oravetz who wrote (207)	11/14/2006 12:09:39 PM
From: Jim Oravetz	Read Replies (1) of 211

IBasis receives Nasdaq delisting notice Reuters 8:50 am November 14, 2006 Nov 14 (Reuters) - Communications services provider iBasis Inc. on Tuesday received a delisting notice from the Nasdaq stock exchange for delaying the filing of its quarterly results. In a statement, the company said it previously announced it was unable to file its quarterly report for the third quarter pending the completion of its review of certain stock option granting practices. The company intends to request a hearing before the Nasdaq listing qualifications panel. In the interim, iBasis released selected financial data for the third quarter. Revenue rose to $133.5 million on the back of strong growth in its trading business. Last year it recorded revenue of $94.6 million. Two analysts on average expected revenue of $132.4 million for the latest quarter. For the full year, on a standalone basis, the company raised the lower end of its revenue outlook range and now expects $510 million to $520 million. In July, the company expected full year revenue of $500 million to $520 million. (Reporting by Shailesh Kuber in Bangalore)

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