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Short Take: Hybrid faces second round of audits

Broadband equipment provider Hybrid Networks said its stock was delisted from Nasdaq at the end of trading Tuesday. The firm plans to reapply for Nasdaq listing once it completes a second round of audits on its financial statements dating back to 1997. Hybrid said the second round was made necessary as the company's books contained "material weaknesses," according to an independent auditor. Hybrid specializes in cable and wireless systems for accessing internal networks and the Net.

Broadband equipment provider Hybrid Networks said its stock was delisted from Nasdaq at the end of trading Tuesday. The firm plans to reapply for Nasdaq listing once it completes a second round of audits on its financial statements dating back to 1997. Hybrid said the second round was made necessary as the company's books contained "material weaknesses," according to an independent auditor. Hybrid specializes in cable and wireless systems for accessing internal networks and the Net.