Article: Photon Dynamics Announces Delay in Filing Form 10-Q and Restatement of Prior Periods.

SAN JOSE, Calif., May 3 /PRNewswire-FirstCall/ -- Photon Dynamics, Inc. announced today that its audit committee is conducting an internal investigation related to revenue recognition, primarily in connection with an order for which revenue was recognized in the fourth quarter of fiscal 2004 (ended September 30, 2004), and that as a result it will not be able to file its Form 10-Q for the second quarter of fiscal 2005 (ended March 31, 2005) when it is due on May 10, 2005. Photon Dynamics does not expect to release unaudited financial results for the second quarter until it files the Form 10-Q. Photon Dynamics' audit committee is also investigating whether revenue ...

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