World Air requests another Nasdaq extension
World Air Holdings Inc. has for the second time since December requested an extension to remain listed on the Nasdaq Stock Exchange.
World Air is yet to file its 2005 annual report with the Securities and Exchange Commission, and has already been given three extensions by the stock exchange following similar delays to quarterly results. The Peachtree, Ga.-based company said the delays were related to its acquisition of passenger carrier North American Airlines in April. It also operates charter cargo and passenger airline World Airways.
“The company has made considerable progress in completing the work necessary to file the 2005 Form 10-K, and demonstrating compliance with Nasdaq’s filing requirement; however, there can be no assurance that the panel will grant the company’s request for continued listing,” World Air said in a statement.
At the same time, World Air said that based on preliminary unaudited results, it expects its 2005 operating income to be about $59 million to $63 million, compared to $40.3 million in 2004. Operating revenues is anticipated to be between $770 million and $775 million, compared to $503.9 million in the previous year.