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Sparton Corporation to Continue Trading On NYSE


Published on 2009-01-27 11:49:15, Last Modified on 2009-01-27 11:50:00 - Market Wire
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JACKSON, Mich.--([ BUSINESS WIRE ])--Sparton Corporation (NYSE: SPA) today announced it has been notified by the New York Stock Exchange (NYSE) that it is now in compliance with the revised temporary market capitalization listing standard criteria of the NYSE and, as a result, will continue to trade on the exchange.

Sparton had been advised of a non-compliance determination from the NYSE in November 2008 because the Company's 30-day average market capitalization fell below the $25 million minimum threshold established by NYSE. The NYSE has adopted a temporary standard of $15 million, which will be in place for 90 days to provide time for markets to rebound. Sparton currently satisfies the new standard and will remain on the NYSE. Sparton remains below the $75 million equity listing criteria and must now submit a plan by February 13, 2009, acceptable to the NYSE to achieve regulatory compliance with the $75 million equity listing criteria.

About Sparton Corporation

Sparton Corporation (NYSE:SPA) now in its 109th year, is a broad-based provider of electronics to technology-driven companies in diverse markets. The Company provides its customers with sophisticated electronic and electromechanical products through prime contracts and through contract design and manufacturing services. Headquartered in Jackson, Michigan, Spartan has six manufacturing locations worldwide. The Company's Web site may be accessed at [ http://www.sparton.com ].

Safe Harbor and Fair Disclosure Statement

The statements contained in this release which are guidance or which are not historical facts (such as statements in the future tense and statements including believe, expect, intend, anticipate, target and similar terms and concepts, and the negatives of such expressions) are forward-looking statements that involve risks and uncertainties, including, but not limited to the economic performance of the electronics and technology industries; the risk of customer delays, changes or cancellations in both on-going and new programs; the Company's ability to secure new customers and maintain its current customer base; material cost fluctuations and the adequate availability of components and related parts for production; the effect of changes in average selling prices; the effect of start-up costs of new programs and facilities, including the Vietnam facility; possible unexpected costs and operating disruption in transitioning programs; the effect of general economic conditions and world events (such as terrorism); the impact of increased competition; and other risks detailed in the Company's Securities and Exchange Commission filings.

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