Nasdaq to Review Navigant International's -FLYRE- Revised Compliance Plan for Continued Listing
June 16 2005 - 9:45AM
Business Wire
- Shares Will Continue to Trade on Nasdaq National Market Pending a
Decision by Nasdaq Listing Qualifications Panel - Navigant
International, Inc. (Nasdaq: FLYRE), the second largest provider of
corporate travel management services in the United States based on
airline tickets sold, announced today that it has presented a
revised compliance plan to the Nasdaq National Market requesting
continued listing, provided that the Company files its Form 10-K
Report for the period ended December 26, 2004 and its Form 10-Q
Report for the period ended March 27, 2005 on or before July 29,
2005. Nasdaq's previous deadline for the filings was June 17, 2005.
Nasdaq has informed the Company that it will remain listed on the
Nasdaq National Market pending a determination of the Nasdaq
Listing Qualifications Panel. There can be no assurance the Panel
will grant the Company's request for an extension. About Navigant
International, Inc. Denver-based Navigant International, Inc.,
doing business as TQ3NAVIGANT, is the second largest corporate
travel management business services provider in North America,
based on airline tickets sold, serving corporate, government,
military, leisure, and meetings and incentive clients. The
Company's "bricks and clicks" end-to-end travel solutions include
corporate travel pattern analysis and ReportFLYR powered reporting
tools; travel policy development; consulting on cost saving
opportunities; airline ticket, hotel and car rental reservations;
meeting and convention planning; and leisure travel products. The
Company currently employs more than 5,100 Associates and has
operations in 1,000 locations in 20 countries and U.S. territories.
This news release contains forward-looking statements, including
statements about the Company's financial results, high leverage of
debt to equity, transaction volumes, growth strategies and
opportunities, the integration of prior or potential future
acquisitions, and general industry or business trends or events.
Investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties. Actual events or results may differ materially from
those discussed in the forward-looking statements as a result of
various factors, including, without limitation, our significant
indebtedness and variable interest payment obligations,
restrictions in our credit facility on our ability to finance
future operations or capital needs, disruptions in the travel
industry such as those caused by terrorism, war or general economic
downturn, competition, our ability to continue to acquire and
integrate potential future acquisitions, our ability to manage our
business and implement growth strategies, failure of technology on
which we rely, other risks described in the Company's annual report
on Form 10-K for the year ended December 28, 2003, and the risk
factors detailed from time to time in the Company's SEC reports,
including the reports on Forms 10-K and 10-Q. The forward-looking
statements made herein are only as of the date of this press
release, and the Company undertakes no obligation to publicly
update such forward-looking statements to reflect subsequent events
or circumstances.
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