Key Tronic Corporation Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form ...
Key Tronic Corporation
(Nasdaq: KTCC) received on
February 17, 2021 a standard notice from Nasdaq indicating that, as
a result of not having timely filed its Quarterly Report on Form
10-Q for the quarter ended December 26, 2020 (the “Form 10-Q”), the
Company is not in compliance with Nasdaq Listing Rule 5250(c)(1),
which requires timely filing of all required periodic financial
reports with the Securities and Exchange Commission (“SEC”).
The Nasdaq notice has no immediate effect on the listing or
trading of the Company’s common stock on the Nasdaq Global Market.
Under Nasdaq’s Listing Rules, the Company has 60 calendar days from
the date of the notice to submit a plan to regain compliance. If
the plan is accepted by Nasdaq, then Nasdaq can grant the Company
up to 180 calendar days from the due date of the Form 10-Q to
regain compliance. The Company is working diligently to file its
Form 10-Q within the timeline prescribed by Nasdaq.
About Key Tronic
Key Tronic is a leading contract manufacturer offering
value-added design and manufacturing services from its facilities
in the United States, Mexico, China and Vietnam. The Company
provides its customers full engineering services, materials
management, worldwide manufacturing facilities, assembly services,
in-house testing, and worldwide distribution. Its customers include
some of the world’s leading original equipment manufacturers. For
more information about Key Tronic visit: www.keytronic.com.
Forward-Looking Statements: Some of the
statements in this press release are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements include, but are not limited
to, those including such words as anticipates, continues, expects,
intends, similar verbs, or nouns corresponding to such verbs, which
may be forward looking. Forward-looking statements also include
other passages that are relevant to expected future events,
performances, and actions or that can only be fully evaluated by
events that will occur in the future. Forward-looking statements in
this press release include, without limitation, the Company’s
statements regarding its ability to file its Form 10-Q within the
timeline prescribed by Nasdaq. There are many factors, risks and
uncertainties that could cause actual results to differ materially
from those predicted or projected in forward-looking statements
including, but not limited to, the findings of the ongoing internal
investigation by the Audit Committee of the Company’s Board of
Directors, related actions by the SEC, accountants and other third
parties, finalization of the Company’s financial statements and
controls review, and factors, risks, and uncertainties detailed
from time to time in the Company’s SEC filings.
||Chief Financial Officer
||Key Tronic Corporation