This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ModusLink Provides Further Update On Restatement Process

ModusLink Global Solutions , Inc. (NASDAQ: MLNK) today announced that the filing of its Form 10-Q for its first quarter of fiscal 2013 ended October 31, 2012 will be delayed as the Company continues to work to complete its previously announced process to restate financial statements for certain prior periods. ModusLink has made substantial progress on the restatement for the prior periods and preparation of the Quarterly Report on Form 10-Q for the third quarter of fiscal year 2012, the Annual Report on Form 10-K for the fiscal year ended July 31, 2012 and the Quarterly Report on Form 10-Q for the first quarter of fiscal 2013. ModusLink expects to complete the restatement process and make its regulatory filings as soon as practicable.

As a result of its ongoing restatement process, ModusLink will not meet the previously disclosed December 10, 2012 NASDAQ extension date to become current in its periodic report filings with the Securities and Exchange Commission. ModusLink expects to receive a delisting determination letter from the NASDAQ Listing Qualifications Department for failure to comply with NASDAQ Rule 5250(c)(1).

Upon receipt of the determination letter, ModusLink intends to request a hearing before the NASDAQ Listing Qualifications Panel (the “Panel”) to exercise its right to appeal any delisting determination and to report on its plan for compliance with NASDAQ’s listing rules. Following a hearing, the Panel has the authority under the NASDAQ Listing Rules to grant the Company an extension of the timeframe to regain compliance with the filing requirements for a period not to exceed 360 days from the original due date (June 11, 2012) of the first delayed filing. The Company expects that it will remain listed on NASDAQ during the pendency of the appeal process and expects to satisfy the 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 registered trademark of ModusLink Global Solutions, Inc. All other company names and products are trademarks or registered trademarks of their respective companies.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,026.33 +47.20 0.28%
S&P 500 1,988.92 +2.41 0.12%
NASDAQ 4,528.6410 +2.1590 0.05%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs