ALEXANDRIA, Va., May 21 /PRNewswire-FirstCall/ -- Halifax Corporation
of Virginia (Amex: HX), an enterprise logistics and maintenance solutions
company announced that the American Stock Exchange has granted the Company
an extension until September 14, 2009 to regain compliance with the
continued listing standards. As previously disclosed the Company had
received notice from the Amex staff indicating that the Company was below
certain of the Exchange's continuing listing standards (losses in three out
of four of it's most recent fiscal years with shareholders equity below $4
Million) of the Amex Company Guide. The Company was afforded the
opportunity to submit a plan of compliance to the Exchange and on April 14,
2008, presented its plan to the Exchange. On May 15, 2008, the Exchange
notified the Company that it had accepted the Company's plan of compliance
and granted the Company an extension until September 14, 2009 to regain
compliance with the continued listing standards. The Company will be
subject to periodic review by the Exchange Staff during the extension
period. Failure to make progress consistent with the plan or failure to
regain compliance with the continued listing standards by the end of the
extension period could result in the Company being delisted from the
American Stock Exchange.
Founded in 1967, Halifax Corporation is an enterprise logistics and
maintenance solutions company providing a wide range of technology services
to commercial and government customers throughout the United States. The
Company's principal products are enterprise logistics solutions and high
availability hardware maintenance services. More information on Halifax can
be found at http://www.hxcorp.com.
Certain statements made by the Company which are not historical facts
may be considered forward-looking statements, including, without
limitation, statements as to trends, management's beliefs, views,
expectations and opinions, which are based upon a number of assumptions
concerning future conditions that ultimately may prove to be inaccurate.
Such forward-looking statements are subject to risks and uncertainties and
may be affected by various factors described in the Risk Factors Section in
the Company's Annual Report on Form 10-K that may cause actual results to
differ materially from those in the forward-looking statements. For further
information that could affect the Company's financial statements, please
refer to the Company's reports filed with the Securities and Exchange
Commission.
SOURCE Halifax Corporation
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Related links:
http://www.hxcorp.com
http://www.prnewswire.com/comp/391950.html/
CONTACT:
Tammy Erwin of Halifax Corporation,
+1-703-658-2422, terwin@hxcorp.com
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