Nature's Sunshine Products Reports Receipt of Noncompliance Notice from Nasdaq
22 November 2005 - 9:55AM
Business Wire
Nature's Sunshine Products Inc. ("the Company") (NASDAQ:NATRE)
announced today that, on November 16, 2005, it received notice from
The Nasdaq Stock Market that, due to the Company's delayed filing
of its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2005, the Company was no longer in compliance with
Marketplace Rule 4310(c)(14). As a result, the Company's common
stock is subject to possible delisting from The Nasdaq Stock Market
at the opening of business on November 28, 2005. In accordance with
the procedures of The Nasdaq Stock Market, the Company will request
a hearing before the Nasdaq Listing Qualifications Panel to appeal
its possible delisting. The Company's appeal to the Panel will
automatically stay the delisting of its common stock pending the
Panel's review and determination. There can be no assurance that
the Panel will grant the Company's request for continued listing,
and, until a determination is made, the symbol "E" will be added to
the Company's trading symbol. The Company previously reported that
it is currently reviewing selected financial information with
respect to certain of its foreign operations and, therefore, the
Company's independent auditor has not completed its review of the
Company's financial statements for the three and nine months
periods ended September 30, 2005. The Company plans to file
tomorrow its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2005, which will include unaudited consolidated
financial statements for the three and nine month periods ended
September 30, 2005 that have not been reviewed by the Company's
independent auditor. The Company believes that the unaudited
consolidated financial statements contained in the 10-Q to be filed
tomorrow are a fair presentation of the Company's financial
position as of September 30, 2005. Upon the completion of the
Company's review and the review by the Company's independent
auditor of the selected financial information with respect to
certain of its foreign operations, the Company intends to file an
amendment to the 10-Q to reflect the review of the Company's
independent auditor and will reflect material changes, if any,
resulting from such reviews. About Nature's Sunshine Nature's
Sunshine Products manufactures and markets through direct sales
encapsulated and tableted herbal products, high quality natural
vitamins, and other complementary products. In addition to the
United States, the Company has operations in Japan, Mexico, Central
America, South Korea, Canada, Dominican Republic, Venezuela,
Ecuador, Peru, the United Kingdom and Ireland, Colombia, Brazil,
Thailand, Israel, Singapore and Taiwan. The Company also has
exclusive distribution agreements with selected companies in
Argentina, Australia, Chile, New Zealand, Norway, and the Russian
Federation. Statements in this press release concerning the
Company's business outlook or future economic performance,
anticipated profitability, revenues, expenses or other financial
items, and product line growth, together with other statements that
are not historical facts, are "forward-looking statements" as that
term is defined under Federal Securities Laws. "Forward-looking
statements" are subject to risks, uncertainties and other factors,
which could cause actual results to differ materially from those
set forth in such statements. Such risks, uncertainties, and
factors include, but are not limited to, foreign business risks,
industry cyclicality, fluctuations in customer demand and order
pattern, changes in pricing and general economic conditions, as
well as other risks detailed in the Company's filings with the
Securities and Exchange Commission. The Company disclaims any
obligations to update any forward-looking statement as a result of
developments occurring after the date of this press release.
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