SouthWest Water Receives Nasdaq Warning

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SouthWest Water Co. said it received a deficiency letter from Nasdaq staff warning that the water, waste water, and public works services company is subject to delisting for being late in filing its quarterly report.

Los Angeles-based SouthWest Water last week delayed filing its quarterly report to the Securities and Exchange Commission as it corrects errors in its financial reports that date back to fiscal 2005.

The company noted in a regulatory filing late Wednesday that Nasdaq rules permit a company 60 calendar days to submit a plan to regain compliance, which it plans to do.

The company also said it received an extension from the syndicate of lenders for its credit facility concerning the financial reporting delay and continues to have full access to its $150 million credit facility.

SouthWest shares were down 4 cents, or 1 percent, to $4.07 in morning trading.

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