BLUE BELL, Pa., Aug. 26, 2013 (GLOBE NEWSWIRE) -- UniTek Global Services, Inc. ("UniTek" or the "Company") (Nasdaq:UNTK), a premier provider of permanently outsourced infrastructure services to the telecommunications, broadband cable, wireless, transportation, public safety and satellite television industries, today provided an update regarding the status of its compliance with NASDAQ Listing Rules.
On August 19, 2013, the Company received an additional letter from the NASDAQ Stock Market notifying the Company that it is not in compliance with NASDAQ Listing Rule 5250(c)(1) because the Company did not timely file its Quarterly Report on Form 10-Q for the period ended June 29, 2013 (the "Second Quarter Form 10-Q") with the Securities and Exchange Commission (the "SEC"). NASDAQ Listing Rule 5250(c)(1) requires the Company to timely file all required periodic financial reports with the SEC.
As previously disclosed, on April 16, 2013, UniTek received a letter from the NASDAQ Stock Market ("NASDAQ") stating that the Company was not in compliance with the continued listing requirements of NASDAQ Listing Rule 5250(c)(1) ("Rule 5250(c)(1)") because the Company did not timely file its Annual Report on Form 10-K for the year ended December 31, 2012 with the SEC. The Company subsequently submitted to NASDAQ a plan to regain compliance with Rule 5250(c)(1), and on May 14, 2013, NASDAQ notified the Company that NASDAQ had determined to grant the Company an exception, through October 14, 2013, to regain compliance with the rule. Additionally, on May 20, 2013, the Company received a letter from NASDAQ stating that the Company also failed to comply with Rule 5250(c)(1) because it did not file its Quarterly Report on Form 10-Q for the quarter ended March 30, 2013 (the "First Quarter Form 10-Q") in a timely manner. UniTek submitted an updated plan to NASDAQ to regain compliance with Rule 5250(c)(1) (the "Compliance Plan"), and was advised that the Company has also been afforded an exception until October 14, 2013 to file the First Quarter Form 10-Q.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV