5.5.2007: Meldung: Active Power: Substantial Completion of Internal Stock Option Review
Thursday May 3, 6:26 pm ET
Q1 2007 Earnings Call Planned for May 14th 2007
AUSTIN, Texas, May 3 -- Active Power, announced today that its independent special committee has substantially completed its previously announced internal review of the company"s historical stock option practices and grants. The Board of Directors for the corporation has adopted all of the recommendations of the special committee.
Subject to the final concurrence of the company"s auditors, the non-cash based compensation adjustments remain as previously guided to be within the range of $1.5 million to $3.0 million. This figure does not include the substantial expenses we have incurred for legal, accounting, tax and other professional services in connection with these matters, nor the costs that we may incur to assist certain affected optionees in meeting their tax liabilities. We are currently finalizing our Annual Report on Form 10K for 2006 which will include our 2006 financial results and restated consolidated financial data for the years ended December 31, 2005, 2004, 2003 and 2002. Upon completion of the filing, we fully anticipate that we will regain compliance with the NASDAQ Global Markets system.
Subject to the filing of the 10K, the company expects to announce its first quarter 2007 results on Monday, May 14th 2007 at 10:00 AM CDT. Details of the call can be found on http://www.activepower.com .
"We are looking forward to closure of our voluntary stock option review process and focusing the corporation"s efforts and resources on the tremendous growth opportunities that exist for the business," said Jim Clishem, President and CEO of Active Power.
About Active Power:
Active Power provides efficient, reliable, and green critical power solutions and Uninterruptible Power Supply (UPS) systems to enable business continuity in the event of power disturbances. Founded in 1992, Active Power"s flywheel-based UPS systems protect critical operations in data centers, healthcare facilities, manufacturing plants, broadcast stations, and governmental agencies in over 40 countries. Active Power also offers CoolAir, the only solution that provides both backup power and backup cooling. With expert power system engineers and worldwide service and support, Active Power provides turnkey solutions that ensure organizations have the power to perform. For more information, please visit http://www.activepower.com .
Active Power, the Active Power logo, and CleanSource are registered trademarks of, and CoolAir is a trademark of Active Power, Inc. All other trademarks are the properties of their respective companies.
Active Power Investor Contact: Active Power Media Contact:
John Penver Jason Deal
Chief Financial Officer The Bernard Group
Source: Active Power