FAT CATS

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GEMS downturn:

Glenayre To Delay 10-K Filing After Stock Option Probe
Monday 03/19/2007 12:33 AM ET - Investrend
March 19, 2007 (FinancialWire) Glenayre Technologies, Inc. (NASDAQ: GEMS) has informed the Securities and Exchange Commission that it would not be able to file its annual report on form 10-K for the year ended December 31, 2006 by the prescribed due date of March 16, 2007.

The move comes as a result of a company investigation of its stock option grant practices that will result in Glenayre taking additional non-cash charges.

Glenayre said it intends to file its form 10-K as "promptly as practicable" after completion of this review.

New York-based Glenayre Technologies provides entertainment products and messaging solutions.

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