Firms Seek to Defer Delisting Threat

Four California technology companies asked the Nasdaq Stock Market on Wednesday to give them more time to file financial results as they examine stock-option grants.

Sanmina-SCI Corp., CNet Networks Inc., Rambus Inc. and QuickLogic Corp. have delayed reporting full results pending the outcome of probes of options grants and may face delisting. The companies said they were asking Nasdaq’s listing qualifications panel for more time.

At least 108 companies have reported U.S. government or internal investigations to determine whether they improperly backdated options grants to inflate their value to executives, according to data compiled by Bloomberg News. Many companies involved have delayed quarterly financial reports and some have said they would restate past results to reflect options costs.

Sanmina-SCI, the world’s second-largest maker of electronics for other companies, said June 9 that the Securities and Exchange Commission had requested information about grants back to 1997. CNet, an online publisher of technology news and reviews, has said it may restate results as far back as 1998.

Shares of San Jose-based Sanmina-SCI rose 15 cents to $3.40. San Francisco-based CNet’s shares fell 2 cents to $8.79.

CNet may be in default on $125 million in convertible senior notes due 2024 because of the filing delay, the company said in a statement. CNet said repayment of the notes may be accelerated as a result.

Shares of QuickLogic, based in Sunnyvale, Calif., fell 1 cent to $2.90.

Rambus said it would ask for a hearing before the Nasdaq panel after the Los Altos, Calif.-based chip designer received a notice from Nasdaq that it hadn’t complied with filing requirements, the company said in a statement.

Rambus has not filed a full financial report for the quarter ended June 30 pending the outcome of an internal investigation into stock-option grants.

Rambus shares gained 29 cents to $11.68.