Telecommunications component manufacturer MRV Communications Inc. announced Monday it will begin trading this week on the Nasdaq Global Markets.
The Chatsworth company had previously traded on the Nasdaq until being suspended in 2009 for failure to meet requirements on filing quarterly earnings. MRV has traded on the OTC Market since then.
Chief Executive David Stehlin Being said the Nasdaq listing, starting March 19, is reflective of the progress made in strengthening corporate governance, resolving legacy issues and improving operating efficiencies.
“We are pleased to provide our shareholders greater liquidity and visibility as we continue to execute on our business transformation and strategic growth plan,” Stehlin said.
On Monday, MRV released its fourth quarter earnings.
The company reported a net loss of $1.2 million (-17 cents a share), compared with net income of $6.5 million (84 cents) in the same period a year earlier. Revenue rose 10 percent to $50.7 million.
Shares closed up 94 cents, or about 6.5 percent, to $15.45 on the OTC Market.