LENEXA, Kan., Aug. 5 /PRNewswire-FirstCall/ -- Elecsys Corporation
(Amex: ASY), today announced that it received a notice on August 3, 2005 from
the American Stock Exchange (the "AMEX" or "Exchange") Staff indicating that
the Company has resolved the previously identified continued listing
deficiency based on the Company's financial results for the quarter and fiscal
year ended April 30, 2005.
As previously announced, the Company was notified in October 2003 that it
was below certain of the Exchange's continuing listing standards. The Company
submitted a plan for regaining compliance with the AMEX continued listing
standards on November 25, 2003. The AMEX accepted the plan on January 23,
2004 and granted the Company an extension until the end of April 2005 to
regain compliance with the continued listing standards. Although the Company
has regained current compliance with the AMEX continued listing standards, if
within the next twelve months the Company again falls below those standards,
the Exchange staff will review both incidents of the Company falling below the
continued listing standards. If the incidents are determined to be related,
the Exchange staff will take appropriate action, which may include delisting
procedures.
Elecsys Corporation is a publicly traded holding company with two wholly
owned subsidiaries, DCI, Inc. and NTG, Inc. DCI designs, manufactures, and
integrates custom electronic interface solutions for original equipment
manufacturers in the medical, aerospace, communications, industrial product,
and other industries. DCI has specialized capabilities to design and
efficiently manufacture custom electronic assemblies which integrate a variety
of interface technologies, such as custom liquid crystal displays, light
emitting diode displays, and keypads, with circuit boards and other electronic
components. NTG designs, markets, and provides remote monitoring solutions
for the gas and oil pipeline industry as well as other industries requiring
remote monitoring solutions. For more information, visit our website at
http://www.elecsyscorp.com .
Safe-Harbor statement: The discussions set forth in this press release
may contain forward-looking comments based on current expectations that
involve a number of risks and uncertainties. Actual results could differ
materially from those projected or suggested in the forward-looking comments.
The difference could be caused by a number of factors, including, but not
limited to the factors and conditions that are described in Elecsys
Corporation's SEC filings, including the Form 10-KSB for the year ended April
30, 2005. The reader is cautioned that Elecsys Corporation does not have a
policy of updating or revising forward-looking statements and thus he or she
should not assume that silence by management of Elecsys Corporation over time
means that actual events are bearing out as estimated in such forward-looking
statements.
Contact: Karl B. Gemperli
(913) 647-0158, Phone
(913) 647-0132, Fax
investorrelations@elecsyscorp.com
SOURCE Elecsys Corporation
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Related links:
http://www.elecsyscorp.com
CONTACT:
Karl B. Gemperli, of Elecsys Corporation,
+1-913-647-0158, Phone, +1-913-647-0132, Fax,
investorrelations@elecsyscorp.com
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