PSC seeks to retain small-cap standing

0 Comments | Register-Guard (Eugene, OR), July, 2002

Byline: CHRISTIAN WIHTOL Register-Guard Business Editor

The Nasdaq Stock Market is looking to boot financially struggling laser-scanner maker PSC Inc. from the Nasdaq SmallCap Market.

PSC, which is based in Portland and has its main manufacturing operations with 650 employees in Eugene, said it is seeking a hearing before the Nasdaq Listing Qualifications Panel to appeal the delisting.

Nasdaq notified PSC that it would be delisted because it no longer met Nasdaq requirements for asset size or stockholders' equity value, PSC said.

Nasdaq early last year booted PSC from the main Nasdaq market onto the small-cap market because PSC's stock price had fallen below $5 a share.

Now, it's PSC's weak balance sheet that's the problem....