Astea Receives NASDAQ Listing Determination; Hearing Requested
HORSHAM, Pa., Oct. 15, 2014 /PRNewswire/ -- Astea International Inc. (NASDAQ: ATEA), a global provider of service management and mobile workforce solutions, today announced that, as expected, the Staff of the Listing Qualifications Department (the "Staff") of The NASDAQ Stock Market LLC ("NASDAQ") notified the Company that, based upon the Company's non-compliance with the $2.5 million stockholders' equity requirement for continued listing on The NASDAQ Capital Market, the Company's securities were subject to delisting unless the Company timely requested a hearing before the NASDAQ Listing Qualifications Panel (the "NASDAQ Panel"). Today, the Company timely requested a hearing before the NASDAQ Panel, which request has stayed the Staff's determination, and the Company's securities will continue to trade on NASDAQ at least pending the hearing and the expiration of any extension period granted by the Panel. The Company is taking all available steps to evidence compliance with the NASDAQ listing criteria; however, there can be no assurance that the Company will be able or that the Panel will grant the Company the necessary time to do so.
About Astea International
Astea International (NASDAQ: ATEA) is a global provider of software solutions that offer all the cornerstones of service lifecycle management, including customer management, service management, asset management, forward and reverse logistics management and mobile workforce management and optimization. Astea's solutions link processes, people, parts, and data to empower companies and provide the agility they need to achieve sustainable value in less time, and successfully compete in a global economy. Since 1979, Astea has been helping more than 600 companies drive even higher levels of customer satisfaction with faster response times and proactive communication, creating a seamless, consistent and highly personalized experience at every customer relationship touch point.
www.astea.com. Service Smart. Enterprise Proven.
© 2014 Astea International Inc. Astea and Astea Alliance are trademarks of Astea International Inc. All other company and product names contained herein are trademarks of the respective holders.
Forward-looking Statements
Statements in this press release, other than statements of historical information, are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks which may cause the Company's actual results in future periods to differ materially from expected results. Those risks include, among others, risks associated with increased competition, customer decisions, the successful completion of continuing development of new products, the successful negotiations, execution and implementation of anticipated new software contracts, the successful addition of personnel in technical areas, our ability to complete development and sell and license our products at prices which result in sufficient revenues to realize profits and other business factors beyond the Company's control. These and other risks are described in the Company's filings with the Securities and Exchange Commission (SEC), including but not limited to the Company's Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q.
SOURCE Astea International Inc.
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