News

8 October 2010

 

Emcore regains compliance with NASDAQ Listing Rule

Emcore Corp of Albuquerque, NM, USA, which makes components, subsystems and systems for the fiber-optic and solar power markets, has received a letter from the NASDAQ Listing Qualifications Department stating that it has regained compliance with NASDAQ Listing Rule 5250(c)(1), by filing with the US Securities and Exchange Commission (SEC) its Form 10-Q report for third-quarter 2010.

Previously, on 18 August, Emcore received a letter from the NASDAQ Stock Market indicating that it was not in compliance with the continued listing requirements under Rule 5250(c)(1). This followed Emcore saying on 16 August that filing of its quarterly report had been delayed because it needed 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 had determined should be recorded. Subsequently, Emcore filed its report for third-quarter 2010 on 5 October.

Rule 5250(c)(1) requires that NASDAQ-listed companies file their required periodic financial reports with the SEC on a timely basis. Because Emcore was able to regain compliance before the 18 October deadline that NASDAQ had set for the firm to submit a plan for regaining compliance, it is no longer required to submit such a plan.

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Emcore receives NASDAQ warning for sub-$1 share price

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