News Article
NASDAQ serves Veeco with late form 10-K filing notice
The firm says the reason for the late filing is due to it reviewing the timing of revenue recognition of MOCVD systems and related upgrades to these systems
Veeco Instruments received a letter from The NASDAQ Stock Market LLC on March 5th, 2013 notifying the company that it is not in compliance with NASDAQ Listing Rule 5250(c)(1).
The reason for this is that its Annual Report on Form 10-K for the year ended December 31st, 2012 was not filed on a timely basis with the Securities and Exchange Commission.
As previously announced, the Form 10-K, as well as Veeco's quarterly report on Form 10-Q for the quarter ended September 30th, 2012, could not be filed on time because the company is reviewing the timing of revenue recognition of MOCVD systems and related upgrades to these systems.
Veeco had previously announced that it had submitted to NASDAQ a plan to regain compliance with NASDAQ’s requirements for continued listing and that NASDAQ had granted an extension, to May 20th, 2013, for the company to regain compliance with NASDAQ’s requirements for continued listing.
The NASDAQ letter dated March 5th, 2013 requires Veeco to submit an update to its original plan to regain compliance with NASDAQ’s filing requirements for continued listing by March 20th, 2013. Veeco intends to submit such an update to its original plan by the required date.
The reason for this is that its Annual Report on Form 10-K for the year ended December 31st, 2012 was not filed on a timely basis with the Securities and Exchange Commission.
As previously announced, the Form 10-K, as well as Veeco's quarterly report on Form 10-Q for the quarter ended September 30th, 2012, could not be filed on time because the company is reviewing the timing of revenue recognition of MOCVD systems and related upgrades to these systems.
Veeco had previously announced that it had submitted to NASDAQ a plan to regain compliance with NASDAQ’s requirements for continued listing and that NASDAQ had granted an extension, to May 20th, 2013, for the company to regain compliance with NASDAQ’s requirements for continued listing.
The NASDAQ letter dated March 5th, 2013 requires Veeco to submit an update to its original plan to regain compliance with NASDAQ’s filing requirements for continued listing by March 20th, 2013. Veeco intends to submit such an update to its original plan by the required date.
