This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

UniTek Global Services Regains Compliance With NASDAQ Filing Requirements

Stocks in this article: UNTK

First and Second Quarter 2013 Reports on Form 10-Q Filed With the SEC

For the Six Months Ended June 30, 2013, Revenues Increased 26.2% Year-Over-Year to $235.0 Million; Adjusted EBITDA 1 Improved 40.5% Year-Over-Year to $17.0 Million; and Net Loss Was $15.4 Million

BLUE BELL, Pa., Oct. 16, 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 announced that it has received notification from the NASDAQ Stock Market that it is now in compliance with the requirements for continued listing, as set forth in NASDAQ Listing Rule 5250(c)(1), as a result of filing its Quarterly Reports on Form 10-Q for the quarters ended March 30, 2013 and June 29, 2013 with the Securities and Exchange Commission prior to the market open on October 15, 2013.

These reports had been delayed due to a previously announced investigation conducted by the Audit Committee of the Company's Board of Directors.

The Company plans to report its financial results for the third quarter ended September 28, 2013 by November 12, 2013.

"The strength of our revenue and adjusted EBITDA results reflect the commitment of our employees, customers and shareholders who supported UniTek as we worked diligently to complete our filings. We view these results as indicative of the character of our people, strength of our leadership and the soundness of our business model and strategy. I would like to express my gratitude to everyone for their support in what has been a critical period in the history of the Company," commented Rocky Romanella, Chief Executive Officer of UniTek.

"Our focus remains fully on the development of our business now that we have met our reporting obligations. We intend to operate a more unified business by mobilizing our enterprise around shared capabilities and capacity, aligning resources with opportunities and diversification of our business and inspiring our constituents – our people, customers, shareholders and suppliers – to trust and grow with us. We recognize that there is still more work to do, but we are confident that we are building a strong brand, becoming an Employer of Choice and building shareholder value, which we expect to be evident in our operating results over the long-term," concluded Mr. Romanella.

1 of 6

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 16,461.32 -153.49 -0.92%
S&P 500 1,927.11 -14.17 -0.73%
NASDAQ 4,382.8470 -36.6310 -0.83%

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