BRYAN, Texas, July 7 /PRNewswire/ -- Neutral Posture Ergonomics, Inc.
(Nasdaq: NTRL) today reported that it has requested Nasdaq for an oral hearing
to appeal the proposed de-listing of its common stock from the Nasdaq National
Market on July 7, 1999. Any de-listing of the Company's common stock has been
stayed pending the outcome of the oral hearing which the Company expects to
take place within the next two months. The de-listing action was undertaken
by Nasdaq because of the failure of the Company to maintain the minimum market
value of its public float at $5,000,000 or greater.
Rebecca Boenigk, Chairman and Chief Executive Officer commented, "We are
taking various steps in an attempt to remedy the situation with the market
value of the public float; however, we are also exploring possible options
with respect to the trading of Company common stock in the event we lose
Nasdaq National Market status."
The Company reported $12.2 million in net sales for the fiscal period
ended June 30, 1999 and reported $12.9 million in net sales for the nine month
period ended March 31, 1999, an increase of 49% as compared to the similar
nine month period ended March 31, 1998 and the Company continues to seek
opportunities to expand its product lines through development of new products
and acquisitions.
Neutral Posture Ergonomics, Inc. manufactures, markets and distributes
office, multi-task and ergonomic seating. Neutral Posture Ergonomics, Inc. is
a certified Women Business Enterprise and its common stock is listed on the
Nasdaq National Market under the symbol NTRL.
PRESS CONTACT:
Gregory A. Katt
409-778-0502
This press release may include certain statements that may be deemed to be
"forward-looking" within the meaning of the Securities Act of 1933, as
amended, and the Securities Exchange Act of 1934, as amended. There are
certain important factors which could cause actual results to differ
materially from those anticipated by the forward-looking statements. Certain
of the important factors which could cause actual results to differ materially
from those in the forward-looking statements include, among other things,
changes from anticipated levels of sales, the ability to increase or maintain
the market value of the Company's common stock, the ability to integrate
acquired product lines and related businesses, future national or regional
economic and competitive conditions, changes in relationships with customers,
customer acceptance of existing and new products, pricing pressures due to
excess capacity, raw material cost increases, change of tax rates, change of
interest rates, declining conditions in the industry, validity of patents,
availability of key component parts, casualty to or other disruption of the
Company's production facility and equipment, delays and disruptions in the
shipment of the Company's products and other factors that generally affect
business.
SOURCE Neutral Posture Ergonomics, Inc.
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Related links:
http://www.neutralposture.com
Company News On-Call:
http://www.prnewswire.com/comp/125652.html or fax,
800-758-5804, ext. 125652
CONTACT:
Gregory A. Katt of Neutral Posture
Ergonomics, Inc., 409-778-0502
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