ModusLink Global Solutions™ Inc. (NASDAQ: MLNK) today announced that the filing of its Annual Report on Form 10-K for its fiscal year 2012 ended July 31, 2012 will be delayed as the Company continues to work to complete its previously announced process to restate financial results for certain prior periods. ModusLink expects to complete this process and make its regulatory filings as soon as practicable, and the Company believes that it has made substantial progress toward the completion of this process.
Subsequent to receiving notification from NASDAQ regarding being noncompliant with NASDAQ’s listing rules, as announced on June 15, 2012, the Company submitted a plan of compliance to NASDAQ and received an extension to become current in its periodic reports filed with the Securities and Exchange Commission by December 10, 2012. The Company expects that NASDAQ will inform the Company that the delay in the filing of the Company’s Annual Report on Form 10-K for the year ended July 31, 2012 will serve as an additional basis for the potential delisting of its shares. The Company expects to be able to satisfy conditions for listing.
About ModusLink Global Solutions
ModusLink Global Solutions Inc. (NASDAQ: MLNK) executes comprehensive supply chain and logistics services that improve clients’ revenue, cost, sustainability and customer experience objectives. ModusLink is a trusted and integrated provider to the world’s leading companies in consumer electronics, communications, computing, medical devices, software, luxury goods and retail. The Company’s operating infrastructure annually supports more than $80 billion of its clients’ revenue and manages approximately 470 million product shipments through more than 30 sites in 15 countries across North America, Europe, and the Asia/Pacific region. For details on ModusLink’s flexible and scalable solutions visit www.moduslink.com and www.valueunchained.com, the blog for supply chain professionals.ModusLink Global Solutions is a trademark of ModusLink Global Solutions Inc. All other company names and products are trademarks or registered trademarks of their respective companies.