MORGAN HILL, Calif., June 14, 2001 (PRIMEZONE) -- Cidco, Inc. (Nasdaq:CDCOE) today announced that Nasdaq has notified the company that it is now in compliance with requirements for continued listing of its common stock on The Nasdaq National Market, following Cidco's filing of Form 10-Q for the quarter ended March 31, 2001. A listing qualifications hearing scheduled for June 21 has been cancelled, and the company's trading symbol will revert to CDCO effective June 14, 2001.
Cidco delayed its filing of Form 10-Q while completing an investigation of an accounting issue. The investigation was completed, and Cidco filed a Form 10-K/A restating financial results for discontinued operations for 1998, 1999 and 2000. The Form 10-Q was filed June 11, 2001.
About Cidco
Cidco Inc. is a worldwide leader in personal Internet communications products and services that enable consumers to communicate simply and easily over the Internet. Cidco introduced its first Internet appliance in 1998, and now provides a family of portable, affordable, easy-to-use devices that make e-mail and other Internet-based information readily available to consumers. The company is headquartered in Morgan Hill, Calif., at the south end of Silicon Valley. For additional information, visit www.CIDCO.com or call (408) 779-1162.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking statements or predictions. In many cases, forward-looking statements can be identified by terminology such as "may," "intends," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of these terms and other comparable terminology. These statements are only predictions. These statements represent our judgment as of this date and are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed in such forward-looking statements. Potential risks and uncertainties include, without limitation, future compliance with Nasdaq listing requirements and future determinations of the Nasdaq Listing Qualifications Panel, or any other directives by regulatory or self-regulatory organizations. These and other factors are discussed in more depth in CIDCO Inc. filings with the SEC, copies of which may be accessed through the SEC's World Wide Web site at http://www.sec.gov. CIDCO is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
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