News

25 August 2010

 

Emcore receives NASDAQ notice for delay in filing quarterly report

Emcore Corp of Albuquerque, NM, USA, which makes components and subsystems for the broadband, fiber-optic, and solar power markets, says that on 18 August it received a letter from the NASDAQ Stock Market indicating that it was not in compliance with the continued listing requirements under NASDAQ Listing Rule 5250(c)(1).

The letter was issued because the firm did not file its Form 10-Q report for its fiscal third-quarter 2010 (to end-June) with the US Securities and Exchange Commission (SEC) on time.

Emcore said on 16 August that filing of its quarterly report has been delayed because the firm needs more time to complete a review of its accounting for certain inventory write-downs and the allowance against a specific account receivable that the firm has determined should be recorded. Emcore intends to file the report “as soon as practicable” upon completion of its review.

The firm is required to submit, by 18 October, a plan to regain compliance with NASDAQ’s requirements for continued listing.

See related items:

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