News

posted on 11 April 2008 04:31

Clustered filer vendor Isilon has regained its Nasdaq listing after filing its delayed financial reports.

Isilon had delayed filing annual and some quarterly results for 2007 because a new CFO noted irregularities in its financial reports. These meant that results had to be recalculated and restated. While this took place Isilon was in breach of the requirements for a Nasdaq listing and was delisted.

This was detrimental to its business as competitors could raise doubts with customers about Isilon's financial stability, and so lower the chances of Isilon winning business. A week or so ago Isilon filed its restated results and said it should be back in compliance with the Chicago-based exchange's requirements.

That confidence has been proved correct. It is back in normal business pitting its products against others on a level business playing field once more.

^{[Paul Roberts, news editor.]}