Imperial Sugar Company Reports Compliance With NASDAQ Listing Rules
Imperial Sugar Company (NASDAQ:
filed its Annual Report on Form 10-K for the fiscal year ended September
30, 2011 (“2011 Form 10-K”) with the SEC on January 6, 2012, regaining
compliance with NASDAQ...
Imperial Sugar Company (NASDAQ: IPSU) filed its Annual Report on Form 10-K for the fiscal year ended September 30, 2011 (“2011 Form 10-K”) with the SEC on January 6, 2012, regaining compliance with NASDAQ listing rules. On January 3, 2012 the Company received a letter from NASDAQ indicating that the Company was not in compliance with NASDAQ’s listing rules (Listing Rule 5250(c)(1)), as it had not filed its 2011 Form 10-K timely. As previously reported, the Company had not received audited financial statements from Louisiana Sugar Refining, LLC, a significant equity method investee, to allow the Company and its auditors to place reliance on such financial statements in its SEC filings. As a result, the Company was unable to file its 2011 Form 10-K timely. About Imperial Sugar Imperial Sugar Company is one of the largest processors and marketers of refined sugar in the United States to food manufacturers, retail grocers and foodservice distributors. The Company markets products nationally under the Imperial®, Dixie Crystals® and Holly® brands. For more information about Imperial Sugar, visit www.imperialsugar.com and www.iscnewsroom.com.
Shares of Imperial Sugar Company (Nasdaq:IPSU) were gapping down Thursday morning with an open price 14.9% lower than Wednesday's closing price. The stock closed at $4.35 yesterday and opened today's trading at $3.70.
Imperial Sugar Company (Nasdaq:IPSU) hit a new 52-week low Thursday as it is currently trading at $6.48, below its previous 52-week low of $6.50 with 168,141 shares traded as of 12:35 p.m. ET. Average volume has been 439,500 shares over the past 30 days.