MILPITAS, Calif., April 10 /PRNewswire-FirstCall/ -- Sipex Corporation
(OTC: SXCP.PK), today announced it has received notification that its
common stock is approved for listing on The NASDAQ Capital Market Exchange.
Sipex has been informed that its common stock will trade upon the opening
of the market on April 11th, 2007 under the symbol "SIPX".
"We are excited to return to NASDAQ," said Ray Wallin, chief financial
officer for Sipex. "With our listing we close out this difficult chapter in
Sipex's history, and we are extremely grateful for the continued support of
our shareholders, customers, and employees. We believe that relisting is an
important step forward for the company and our shareholders. The stability
and coverage of NASDAQ furthers our efforts to deliver growth and enhance
shareholder value. It also provides both the market visibility and access
that are of paramount importance to institutional investors."
"It's been a tremendous amount of work, but our new management team has
surmounted many significant financial and compliance challenges. A very
small percentage of companies ever make it off of the pink sheets in order
to be listed again on NASDAQ," continued Mr. Wallin.
"The NASDAQ listing also comes at a time when our operational changes
are starting to make an impact to our key financial metrics," said Ralph
Schmitt, Sipex's chief executive officer. "We are driving towards
profitability with the major changes we have made in our cost structure and
manufacturing strategy. The recent analog market slowdown has not deterred
our progress towards this effort. We also continue to gain traction with
key customers in order to move the company forward and increase shareholder
value."
About Sipex Corporation
Sipex Corporation is a semiconductor company that designs, manufactures
and markets high performance, value-added analog integrated circuits (IC).
Sipex serves the broad analog signal processing market with interface,
power management and optical storage ICs for use in automotive, portable
products, computing, communications, and networking infrastructure markets.
The company is headquartered in Milpitas, California with additional
offices in Belgium, Canada, China, Germany, Japan and Taiwan. Sipex sells
products direct and through its distribution channels. For more information
about Sipex, visit http://www.sipex.com/.
Safe Harbor Statement Regarding Forward Looking Statements
This press release contains forward-looking statements concerning
Sipex's future events including, but not limited to statements about the
market visibility and access provided to the Company by being listed on the
NASDAQ, the Company's ability to deliver growth and enhanced shareholder
value, that operational changes made by the Company will make an impact to
key financial metrics and that the Company will continue to gain traction
with key customers, statements regarding the Company's beliefs, plans,
expectations or intentions regarding the future are forward-looking
statements, within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. All such forward looking statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are predictions and involve risks
and uncertainties, such that actual results may differ significantly. These
risks include, but are not limited to, the risk that Sipex may not benefit
from the stability and coverage of the NASDAQ, that the Company may not
benefit from the market visibility and access provided to the Company by
being listed on the NASDAQ, or the risks that the Company's may not be able
to deliver growth and enhance shareholder value, that operational changes
made by the Company will not continue to make an impact to key financial
metrics and that the Company will not continue to gain traction with key
customers. The Company disclaims any intention or obligation to publicly
update or revise any forward-looking statements, whether as a result of
events or circumstances after the date hereof or to reflect the occurrence
of unanticipated events. For further discussion of these risks and
uncertainties, we refer you to the documents the Company files with the SEC
from time to time, including the Company's Annual Report on Form 10-K for
the year ended December 30, 2006. All forward-looking statements are made
as of today, and the Company disclaims any duty to update such statements.
For additional information, contact:
Ralph Schmitt, Chief Executive Officer
Phone: 408-934-7500
Fax: 408-935-7686
Email: rschmitt@sipex.com
SOURCE Sipex Corporation
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Related links:
http://www.sipex.com
CONTACT:
Ralph Schmitt, Chief Executive Officer,
+1-408-934-7500, or fax, +1-408-935-7686, or rschmitt@sipex.com
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