Veeco Receives NASDAQ Notice Regarding Late Form 10-Q Filing
PLAINVIEW, N.Y.--(BUSINESS WIRE)--
Veeco Instruments Inc. (NASDAQ: VECO) announced today that it received a
letter from The NASDAQ Stock Market LLC (“NASDAQ”) on November 26, 2012
notifying the Company that it is not in compliance with NASDAQ Listing
Rule 5250(c)(1) because its Quarterly Report on Form 10-Q for the
quarter ended September 30, 2012 was not filed on a timely basis with
the Securities and Exchange Commission. As previously announced, the
Form 10-Q could not be filed timely because the Company is reviewing the
timing of revenue recognition of MOCVD systems and related upgrades to
these systems.
The NASDAQ letter notes that Veeco is required to submit a plan to
regain compliance with NASDAQ’s filing requirements for continued
listing by January 22, 2013. Upon acceptance of the Company’s compliance
plan, NASDAQ is permitted to grant an extension of up to 180 days from
the Form 10-Q’s filing due date for the Company to regain compliance
with NASDAQ’s requirements for continued listing. The Company continues
to focus its efforts on completing the Form 10-Q filing as soon as
possible and fully intends to submit a plan by January 22, 2013 to
regain compliance with NASDAQ’s listing rules.
About Veeco
Veeco’s process equipment solutions enable the manufacture of LEDs,
power electronics, hard drives, MEMS and wireless chips. We are the
market leader in MOCVD, MBE, Ion Beam and other advanced thin film
process technologies. Our high performance systems drive innovation in
energy efficiency, consumer electronics and network storage and allow
our customers to maximize productivity and achieve lower cost of
ownership. For information on our company, products and worldwide
service and support, please visit www.veeco.com.
To the extent that this news release discusses expectations or
otherwise makes statements about the future, such statements are
forward-looking and are subject to a number of risks and uncertainties
that could cause actual results to differ materially from the statements
made. These factors include the risks discussed in the Business
Description and Management's Discussion and Analysis sections of Veeco's
Annual Report on Form 10-K for the year ended December 31, 2011 and in
our subsequent quarterly reports on Form 10-Q, current reports on Form
8-K and press releases. Veeco does not undertake any obligation to
update any forward-looking statements to reflect future events or
circumstances after the date of such statements.
Press Release $VECO Veeco Instruments Inc.
PLAINVIEW, N.Y.--(BUSINESS WIRE)-- Veeco Instruments Inc. (NASDAQ: VECO) announced today that it received a letter from The NASDAQ Stock Market LLC (“NASDAQ”) on November 26, 2012 notifying the Company that it is not in compliance with NASDAQ Listing Rule 5250(c)(1) because its Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 was not filed on a timely basis with the Securities and Exchange Commission. As previously announced, the Form 10-Q could not be filed timely because the Company is reviewing the timing of revenue recognition of MOCVD systems and related upgrades to these systems.
The NASDAQ letter notes that Veeco is required to submit a plan to regain compliance with NASDAQ’s filing requirements for continued listing by January 22, 2013. Upon acceptance of the Company’s compliance plan, NASDAQ is permitted to grant an extension of up to 180 days from the Form 10-Q’s filing due date for the Company to regain compliance with NASDAQ’s requirements for continued listing. The Company continues to focus its efforts on completing the Form 10-Q filing as soon as possible and fully intends to submit a plan by January 22, 2013 to regain compliance with NASDAQ’s listing rules.
About Veeco
Veeco’s process equipment solutions enable the manufacture of LEDs, power electronics, hard drives, MEMS and wireless chips. We are the market leader in MOCVD, MBE, Ion Beam and other advanced thin film process technologies. Our high performance systems drive innovation in energy efficiency, consumer electronics and network storage and allow our customers to maximize productivity and achieve lower cost of ownership. For information on our company, products and worldwide service and support, please visit www.veeco.com.
To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2011 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.
Veeco Instruments Inc.
Debra Wasser, SVP Investor Relations & Corporate Communications
516-677-0200 x1472
Source: Veeco Instruments Inc.