MatrixOne Issues Update on Financial Review
15 September 2005 - 11:30PM
Business Wire
MatrixOne, Inc. (NASDAQ: MONEE), a leading provider of
collaborative product lifecycle management (PLM) solutions for the
value chain(TM), today announced that the filing of its Annual
Report on Form 10-K for the fiscal year ended July 2, 2005 will be
delayed beyond the Securities and Exchange Commission's filing
deadline of September 15, 2005 to provide additional time to
complete the previously announced review of the Company's revenue
recognition practices and restatement of previously reported
financial results. Subject to the completion of the review and
restatement, the Company presently expects to complete and file its
periodic reports for the quarter ended April 2, 2005 and the fiscal
year ended July 2, 2005 by September 30, 2005. As previously
disclosed, NASDAQ has granted the Company an extension until
September 30, 2005 to file these periodic reports. Upon the filing
of these periodic reports, the Company expects to be in compliance
with NASDAQ's requirements for continued listing. About MatrixOne
MatrixOne, Inc. (NASDAQ: MONEE), a leading global provider of
product lifecycle management (PLM) software and services, enables
companies to accelerate product innovation to achieve top line
revenue growth and improve bottom line profitability. With
world-class PLM solutions and a commitment to customer success,
MatrixOne is focused on helping companies across the automotive,
aerospace & defense, consumer, machinery, medical device,
semiconductor and high-tech industries solve their most challenging
new product development and introduction problems. More than 800
companies use MatrixOne's solutions to drive business value and
gain a competitive advantage, including industry leaders such as
BAE Systems, Bosch, Comau, General Electric, Honda, Johnson
Controls, Linde AG, NCR, Nokia, Philips, Porsche, Procter &
Gamble, Sony Ericsson, STMicroelectronics and Toshiba. MatrixOne
(www.matrixone.com) is headquartered in Westford, Massachusetts,
with locations throughout North America, Europe and Asia-Pacific.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 - Forward-looking statements in this release do
not constitute guarantees of future performance. Such
forward-looking statements are subject to risks and uncertainties
that could cause our actual results to differ materially from those
anticipated. Such statements relate, among other things, to the
expected impact of the restatement on our financial and operating
results as restated. The risks and uncertainties that may affect
forward-looking statements include, among others: the risk of the
delisting of our common stock on the NASDAQ Stock Market,
unforeseen issues encountered in the review of our revenue
recognition practices and the completion of our quarterly financial
review and audit for the fiscal year ended July 2, 2005 which may
change the expected adjustments described herein. For a more
detailed discussion of the risks and uncertainties of our business,
please refer to our periodic reports and registration statements
filed with the Securities and Exchange Commission, including our
Annual Report on Form 10-K for the fiscal year ended July 3, 2004,
our Registration Statement on Form S-3 filed on September 29, 2004
as amended, and our Quarterly Report on Form 10-Q for the fiscal
quarter ended January 1, 2005. However, the financial statements
and other financial information therein may not be relied upon
until the restatement process and related audit are completed. The
forward-looking statements included in this press release represent
our views as of the date of this press release. We anticipate that
subsequent events and developments may cause our views to change.
We assume no obligation to update any forward-looking information
contained in this press release or with respect to the
announcements described herein. MatrixOne and the MatrixOne logo
are registered trademarks, and "a leading provider of collaborative
product lifecycle management (PLM) solutions for the value chain"
is a trademark of MatrixOne, Inc. All other trademarks and service
marks are the property of their respective owners.
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