Kid Brands Announces Acceptance by NYSE of Continued Listing Plan
March 19 2013 - 8:30AM
Marketwired
Kid Brands, Inc. (NYSE: KID) today announced receipt of notice that
the New York Stock Exchange ("NYSE") has accepted the Company's
plan for continued listing. As a result, the Company's common stock
will continue to be listed on the NYSE, subject to quarterly
reviews by the NYSE's Listing and Compliance Committee to ensure
the Company's progress toward its plan to restore compliance with
continued listing standards.
On December 20, 2012, the Company announced that it was below
continued listing criteria because its average market
capitalization over a consecutive 30 trading-day period and total
shareholders' equity were each below the $50 million required.
With the NYSE's acceptance of the continued listing plan, the
Company has until June 14, 2014 in which to comply with the listing
standard described above, subject to its compliance with the NYSE's
other continued listing requirements. The Company will continue to
work proactively with the NYSE to maintain the listing of its
common stock during the relevant compliance period.
Kid Brands, Inc.
Kid Brands, Inc. and its subsidiaries are leaders in the design,
development and distribution of infant and juvenile branded
products. Its design-led products are primarily distributed through
mass market, baby super stores, specialty, food, drug, independent
and e-commerce retailers worldwide.
The Company's current operating subsidiaries consist of: Kids
Line, LLC; LaJobi, Inc; Sassy, Inc.; and CoCaLo, Inc. Through these
wholly-owned subsidiaries, the Company designs, manufactures
(through third parties) and markets branded infant and juvenile
products in a number of complementary categories including, among
others: infant bedding and related nursery accessories and décor,
nursery appliances, and diaper bags (Kids Line® and CoCaLo®);
nursery furniture and related products (LaJobi®); and developmental
toys and feeding, bath and baby care items with features that
address the various stages of an infant's early years (Sassy®). In
addition to the Company's branded products, the Company also
markets certain categories of products under various licenses,
including Carter's®, Disney®, Graco® and Serta®. Additional
information about the Company is available at
www.kidbrands.com.
Note: This press release contains certain forward-looking
statements. Additional written and oral forward-looking statements
may be made by the Company from time to time in Securities and
Exchange Commission (SEC) filings and otherwise. The Private
Securities Litigation Reform Act of 1995 provides a safe-harbor for
forward-looking statements. These statements may be identified by
the use of forward-looking words or phrases including, but not
limited to, "anticipate", "believe", "expect", "project", "intend",
"may", "planned", "potential", "should", "will" or "would". The
Company cautions readers that results predicted by forward-looking
statements, including, without limitation, those relating to the
Company's future business prospects, revenues, working capital,
liquidity, capital needs, order backlog, interest costs and income
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those indicated in the
forward-looking statements. Specific risks and uncertainties
include, but are not limited to those set forth under Item 1A,
"Risk Factors", of the Company's most recent Annual Report on Form
10-K and any subsequent Quarterly Reports on Form 10-Q, each as
filed with the SEC. The Company undertakes no obligation to
publicly update any forward-looking statement, whether as a result
of new information, future events or otherwise.
AT THE COMPANY Marc S. Goldfarb Senior Vice President
& General Counsel 201-405-2454 AT FTI CONSULTING
Jennifer Milan / Daniel Haykin General Information 212-850-5600
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