Power Solutions International Announces Receipt Of Additional Notice From Nasdaq And Acceptance Of Its Original Plan To Regain Compliance

WOOD DALE, Ill., Nov. 17, 2016 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. ("the Company") (Nasdaq:PSIX), a leader in the design, engineer and manufacture of emissions-certified, alternative-fuel power systems, announced that, as expected, it received an additional notice from The Nasdaq Stock Market ("Nasdaq") on November 11, 2016, stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it did not timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2016 with the Securities and Exchange Commission. 

As a result of this additional notice, the Company is required to submit an update to the plan originally submitted to regain compliance with respect to the filing requirement associated with its Quarterly report on Form 10-Q for the quarter ended June 30, 2016.  The Company's original plan to regain compliance with Nasdaq listing rules, which permits the continued listing of the Company's stock on Nasdaq, was accepted by Nasdaq on November 7, 2016.  The acceptance granted the Company an exception to listing rules to file its Form 10-Q for the quarterly period ended June 30, 2016 on or before February 6, 2017.  The Company plans to submit an update of its plan of compliance to Nasdaq no later than November 28, 2016, as requested by Nasdaq.

As previously announced, the Audit Committee and the professionals engaged by it are working diligently with management to complete the independent review necessary for the Company to finalize its financial statements for the quarters ended June 30, 2016 and September 30, 2016.

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