Hansen To Meet Nasdaq Deadline

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Hansen Natural Corp. said Monday that it intends to file its 2006 annual report by June 14, the deadline set by Nasdaq, which has threatened the soft drink maker with delisting.


Hansen delayed the filing while it conducted an internal probe of its stock options practices. Hansen filed a partial earnings statement, from the quarter ending Sept. 30, on May 7 — meeting a May 14th deadline issued by Nasdaq for filing its third quarter results.


The committee said it found some errors in accounting for options and inadequate accounting and administration processes, but no “willful or intentional misconduct” by company executives.


On May 5, the company reported that it would miss analysts’ estimates for first-quarter sales, and added that it would delay full results until it filed delinquent quarterly statements related.


Shares in Hansen closed up 14 cents to $39.42 on Monday but lost 2 cents per share in after-hours trading on the Nasdaq. Hansen shares have gained 60 percent since its shares hit a 52-week low back in November after the company announced the SEC was investigating the company.

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