EFI Receives Nasdaq Notice Related to Delay in 10-Q Filing
November 21 2017 - 4:05PM
Electronics For Imaging, Inc. (Nasdaq:EFII), a world leader in
customer-focused digital printing innovation, today announced that
as expected the Company received a notification letter from Nasdaq
stating that the Company is not in compliance with Nasdaq listing
rule 5250(c)(1), which requires timely filing of reports with
the U.S. Securities and Exchange Commission. The November 15,
2017 letter was sent as a result of the Company's delay in filing
its Quarterly Report on Form 10-Q for the period ending September
30, 2017 (the "Form 10-Q"), which was due November 9, 2017, as
previously reported in the Company's Form 12b-25 filed with the SEC
on November 13, 2017.
The Nasdaq notice has no immediate effect on the listing or
trading of the Company's common stock on the Nasdaq Global Select
Market. Under the Nasdaq rules, the Company has 60 days from the
date of the notice either to file the Form 10-Q or to submit a plan
to Nasdaq to regain compliance with Nasdaq's listing rules. If a
plan is submitted and accepted, EFI could be granted up to 180
days from the Form 10-Q's due date to regain compliance.
The Company's evaluation of certain accounting-related matters,
which was previously announced on November 13, 2017 and November
14, 2017 in the Company’s Form 12b-25 and a Report on Form 8-K,
respectively, has progressed significantly. Following the
completion of the evaluation, the Company plans to file its Form
10-Q promptly.
Safe Harbor for Forward Looking Statements
Certain statements in this press release are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Statements other than statements of historical
fact including words such as "address", "anticipate", "believe",
"consider", "continue", "develop", "estimate", "expect", "further",
"look", and "plan" and statements in the future tense are forward
looking statements. The statements in this press release that could
be deemed forward-looking statements include statements regarding
the Company's strategy, plans, expectations regarding the scope or
the outcome of the evaluation related to the accounting matter, the
Company's ability to file the Form 10-Q and achieve compliance with
Nasdaq listing rules and any statements or assumptions underlying
any of the foregoing.
Forward-looking statements are subject to certain risks and
uncertainties that could cause our actual future results to differ
materially, or cause a material adverse impact on our results.
Potential risks and uncertainties include, but are not necessarily
limited to risk factors that may be included from time to time in
the Company's SEC reports.The statements in this press release are
made as of the date of this press release and are subject to
revision until the Company will have filed its Quarterly Report on
Form 10-Q for the quarter ended September 30, 2017. The Company
undertakes no obligation to update information contained in this
press release. For further information regarding risks and
uncertainties associated with EFI's businesses, please refer to the
section entitled "Risk Factors" in the Company's SEC filings,
including, but not limited to, its annual report on Form 10-K and
its quarterly reports on Form 10-Q, copies of which may be obtained
by contacting EFI's Investor Relations Department by phone at
650-357-3828 or by email at investor.relations@efi.com or
EFI's Investor Relations website at www.efi.com.
About EFIEFI™ is a global technology company,
based in Silicon Valley, and is leading the worldwide
transformation from analog to digital imaging. We are
passionate about fueling customer success with products that
increase competitiveness and boost productivity. To do
that, we develop breakthrough technologies for the manufacturing of
signage, packaging, textiles, ceramic tiles, and personalized
documents, with a wide range of printers, inks, digital front ends,
and a comprehensive business and production workflow suite
that transforms and streamlines the entire production
process. (www.efi.com)
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