MRV Still Late with Earnings Reports

MRV Communications Inc. missed filing a required earnings report for the second quarter in a row putting the company out of compliance with Nasdaq. The Chatsworth-based maker of network equipment and optical components is late in filing reports for the quarters ending in June and September due to a pending review by a special committee of the board of director into past stock option practices and other unrelated accounting issue. The company was granted an extension by the Nasdaq Listing Qualifications Panel to file the June report in February and will seek addition time from the panel to file the September report. Until a decision by the Panel on this extension request, MRV’s common stock will continue to be listed on Nasdaq. Shares of MRV closed up at $0.57.