Irvine chipmaker Broadcom Corp. said Wednesday it is back in compliance with Nasdaq rules, a day after filing financial reports delayed amid its look into stock options.
Broadcom had faced the threat of delisting for a lag in filing quarterly results for much of the past year.
On Tuesday, Broadcom filed results for the first three quarters of 2006 and restated numbers for 1998 to 2005.
The company’s fourth-quarter results are due Feb. 8.
Nasdaq has closed its review of Broadcom’s listing status, the company said.
On Tuesday, Broadcom said it recorded $2.2 billion in added expenses for 1998 through 2005 to correct misdating of stock options.
Broadcom’s option grants still are the subject of a formal Securities and Exchange Commission inquiry and an informal inquiry by federal prosecutors.
The company fared well on Wall Street a day after announcing the higher than expected options bill.
Its shares closed up more than 4% and saw an upgrade from “neutral” to “buy” by D.A. Davidson & Co.
