|[July 01, 2014]
Pulse Electronics Receives Notice of Non-Compliance from NYSE
SAN DIEGO --(Business Wire)--
Pulse (News - Alert) Electronics Corporation (NYSE:PULS), a leading provider of
electronic components, today announced that on June 25, 2014, it
received notice from the New York Stock Exchange ("NYSE") that the
Company is not in compliance with a NYSE standard for continued listing
of its common stock on the exchange. Specifically, the Company is below
the NYSE minimum requirement for average total market capitalization
over 30 consecutive trading days of greater than $50 million when its
last reported shareholders' equity is less than $50 million.
Under NYSE rules, the Company has 45 days from the date of the notice to
demonstrate to the NYSE its ability to achieve compliance with the
market capitalization listing standards within nine months of receiving
the notice. The Company intends to work with the NYSE to evaluate its
options for regaining compliance with listing standards. During the nine
month cure period, the Company's shares will continue to be listed and
traded on the NYSE, subject to the Company's compliance with other NYSE
continued listing standards.
The Company's business operations, credit agreement, and Securities and
Exchange Commission reporting requirements are unaffected by this notice.
Additionally, the Company affirmed its previousannouncement on May 12,
2014, that increasing order rates for network and power in the first
quarter provide a positive outlook for Pulse in the second quarter. The
Company continues to maintain its focus on EBITDA growth and anticipates
second quarter EBITDA will be in line with the generally increasing
trend of the past two years.
About Pulse Electronics Corporation
Pulse Electronics is the electronic components partner that helps
customers build the next great product by providing the needed technical
solutions. Pulse Electronics has a long operating history of innovation
in magnetics, antennas and connectors, as well as the ability to ramp
quickly into high-quality, high-volume production. The company serves
the wireless and wireline communications, power management,
military/aerospace and automotive industries. Pulse Electronics is a
participating member of the IEEE, SFF, OIF (News - Alert), HDBaseT Alliance, CommNexus,
and MoCA. Visit the Pulse Electronics website at www.pulseelectronics.com.
This press release contains statements, including statements as to the
Company's plans with respect to the NYSE letter of June 25, 2014, and
projections of future business objectives and financial results, that
are "forward-looking" within the meaning of the Private Securities
Litigation Reform Act of 1995 and involve a number of risks and
uncertainties. These forward-looking statements are based on the
company's current information and expectations. There can be no
assurance these forward-looking statements, will be achieved. Actual
results may differ materially due to the risk factors listed from time
to time in the company's SEC (News - Alert) reports including, but not limited to,
those discussed in its Current Reports on Form 8-K, Quarterly Reports on
Form 10-Q and Annual Reports on Form 10-K. All such risk factors are
incorporated herein by reference as though set forth in full. The
company undertakes no obligation to update any forward looking statement.
Copyright © 2014 Pulse Electronics Corporation. All rights reserved.
All brand names and trademarks are properties of their respective
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