SMTC Regains Compliance with Nasdaq Minimum Bid Price Requirements

2010年 2月 4日 星期四 05:30 BJT
 

TORONTO,  Feb. 3  /PRNewswire-FirstCall/ - SMTC Corporation (Nasdaq: SMTX,
TSE: SMX), a global electronics manufacturing services provider, today
announced that it has regained compliance with the minimum bid price
requirement of The Nasdaq Stock Market under Nasdaq Listing Rule 5450(a)(1).

On  September 15, 2009, Nasdaq notified the Company that its common stock had
failed to maintain a minimum bid price of  $1.00  for the previous 30
consecutive business days as required by the Nasdaq Listing Rules. Today,
Nasdaq confirmed that the Company has regained compliance. Pursuant to
Nasdaq's rules, the Company was required to achieve a closing bid price of at
least  $1.00  per share for 10 consecutive trading days which was completed on
 February 2, 2010.



About SMTC Corporation: SMTC Corporation, founded in 1985, is a mid-size
provider of end-to-end electronics manufacturing services (EMS) including PCBA
production, systems integration and comprehensive testing services, enclosure
fabrication, as well as product design, sustaining engineering and supply
chain management services. SMTC facilities span a broad footprint in  the
United States,  Canada,  Mexico, and  China, with more than 1000 full time
employees. SMTC services extend over the entire electronic product life cycle
from the development and introduction of new products through to the growth,
maturity and end-of-life phases. SMTC offers fully integrated contract
manufacturing services with a distinctive approach to global original
equipment manufacturers (OEMs) and emerging technology companies primarily
within industrial, computing and communication market segments. SMTC is a
public company incorporated in  Delaware  with its shares traded on the Nasdaq
Global Market System under the symbol SMTX and on the Toronto Stock Exchange
under the symbol SMX. For further information on SMTC Corporation, please
visit our website at  www.smtc.com  (http://www.smtc.com/)



Note for Investors: The statements contained in this release that are not
purely historical are forward-looking statements which involve risk and
uncertainties that could cause actual results to differ materially from those
expressed in the forward-looking statements. These statements may be
identified by their use of forward-looking terminology such as "believes",
"expect", "may", "should", "would", "will", "intends", "plans", "estimates",
"anticipates" and similar words, and include, but are not limited to,
statements regarding the expectations, intentions or strategies of SMTC
Corporation. For these statements, we claim the protection of the safe harbor
for forward-looking statements provisions contained in the Private Securities
Litigation Reform Act of 1995. Risks and uncertainties that may cause future
results to differ from forward-looking statements include the challenges of
managing quickly expanding operations and integrating acquired companies,
fluctuations in demand for customers' products and changes in customers'
product sources, competition in the EMS industry, component shortages, and
others discussed in the Company's most recent filings with securities
regulators in  the United States  and  Canada. The forward-looking statements
contained in this release are made as of the date hereof and the Company
assumes no obligation to update the forward-looking statements, or to update
the reasons why actual results could differ materially from those projected in
the forward-looking statements.



SOURCE  SMTC Corporation


Jane Todd, Senior Vice President, Finance and Chief Financial Officer, (905)
479-1810 Ext. 2465, Email: investorrelations@smtc.com

 

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