inTEST Corporation Receives Nasdaq Non-Compliance Notice
May 21 2009 - 11:30AM
PR Newswire (US)
CHERRY HILL, N.J., May 21 /PRNewswire-FirstCall/ -- inTEST
Corporation (NASDAQ:INTT), an independent designer, manufacturer
and marketer of semiconductor automatic test equipment (ATE)
interface solutions and temperature management products, today
reported that, on May 18, 2009, it received a Nasdaq Staff
Deficiency letter indicating that it is not in compliance with the
filing requirement under Nasdaq's Listing Rule 5250(c)(1) due to
its failure to timely file its Form 10-Q for the period ended March
31, 2009. The receipt of this letter was anticipated, as previously
reported in the Company's Form 8-K filed on May 15, 2009. The
notice further stated that Nasdaq rules permit inTEST to submit a
plan to regain compliance by no later than July 17, 2009, or within
60 calendar days, with regard to this filing. However, because the
Company is also delinquent in its Annual Report on Form 10K for the
period ended December 31, 2008 (the "Initial Delinquent Filing"),
any exception to regain compliance, if granted, will be limited to
a maximum of 180 calendar days from the due date of the Initial
Delinquent Filing, or until September 28, 2009. inTEST currently
anticipates regaining compliance with the filing requirement by
filing its Form 10-Q prior to July 17, 2009. About inTEST
Corporation inTEST Corporation is an independent designer,
manufacturer and marketer of ATE interface solutions and
temperature management products, which are used by semiconductor
manufacturers to perform final testing of integrated circuits (ICs)
and wafers. The Company's high-performance products are designed to
enable semiconductor manufacturers to improve the speed,
reliability, efficiency and profitability of IC test processes.
Specific products include positioner and docking hardware products,
temperature management systems and customized interface solutions.
The Company has established strong relationships with semiconductor
manufacturers globally, which it supports through a network of
local offices. For more information visit http://www.intest.com/.
CONTACT: Hugh T. Regan, Jr., Treasurer and Chief Financial Officer,
inTEST Corporation, 856-424-6886, ext 201. Forward-Looking
Statements: This press release includes forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements do not convey historical information, but
relate to predicted or potential future events that are based upon
management's current expectations. These statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements. In
addition to the factors mentioned in this press release, such risks
and uncertainties include, but are not limited to, changes in
business conditions and the economy, generally; changes in the
demand for semiconductors, generally; changes in the rates of, and
timing of, capital expenditures by semiconductor manufacturers;
progress of product development programs; increases in raw material
and fabrication costs associated with our products; implementation
of additional restructuring initiatives; costs associated with
compliance with Sarbanes Oxley and other risk factors set forth
from time to time in our SEC filings, including, but not limited
to, our periodic reports on Form 10-K and Form 10-Q. The Company
undertakes no obligation to update the information in this press
release to reflect events or circumstances after the date hereof or
to reflect the occurrence of anticipated or unanticipated events.
DATASOURCE: inTEST Corporation CONTACT: Hugh T. Regan, Jr.,
Treasurer and Chief Financial Officer, inTEST Corporation,
+1-856-424-6886, ext. 201 Web Site: http://www.intest.com/
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