MRV Communications Inc. has missed another deadline for filing a required quarterly earnings report, putting the telecommunications equipment company out of compliance with Nasdaq requirements to remain listed.

Chatsworth-based MRV, whose shares now trade under $1 as sales of its network equipment and optical components have disappointed, said Monday it was late in filing reports for its second and third quarters due to a pending review by a special committee of the board. The review is looking at past stock option practices and other accounting issues.

The company earlier was granted an extension by a Nasdaq panel to file its second quarter report and now will seek additional time to file the third quarter report after receiving a noncompliance letter from Nasdaq staff.

The company last month announced preliminary third quarter results showing revenue grew 13 percent to $131 million, and the first three quarters of the year were 31 percent better than the same period in 2007.

Even so, Chief Executive Noam Lotan said the company should have done better. “Demand and orders remain strong for our fiber optic business but establishing product lines in our new manufacturing facility in Chengdu, China, took longer than originally anticipated, resulting in unmet demand,” Lotan said in a statement.

Until a decision by the Nasdaq panel, MRV’s stock will continue to be listed on the exchange. Shares were unchanged at 57 cents on Tuesday morning,