Syntax-Brillian Corporation Receives NASDAQ Notice
May 19 2008 - 9:00AM
Business Wire
Syntax-Brillian Corporation (Nasdaq:BRLC) today announced that on
May 15, 2008, the Company received a NASDAQ Staff Determination
Letter stating that the Company is not in compliance with NASDAQ
Marketplace Rule 4310(c)(14) as a result of its failure to timely
file its Quarterly Report on Form 10-Q for the quarter ended March
31, 2008. As announced earlier this month, the NASDAQ Listing
Qualifications Panel granted Syntax-Brillian�s prior request for
continued listing on The NASDAQ Stock Market, notwithstanding the
delay in the filing of the Company�s Quarterly Report on Form 10-Q
for the period ended December 31, 2007. In accordance with the
Panel�s decision, among other things, Syntax-Brillian is required
to file the December Form 10-Q by July 31, 2008. The recent Staff
Determination Letter, which was expected, invited the Company to
present additional information regarding the March 10-Q filing
delay to the NASDAQ Listing Qualifications Panel�for its review by
no later than May 22, 2008. Syntax-Brillian is preparing additional
information pursuant to this request and expects that its shares
will continue to be listed on The NASDAQ Global Market during this
process. However, there can be no assurance that the Listing
Qualifications Panel will grant the Company�s request for continued
listing. About Syntax-Brillian Syntax-Brillian Corporation
(www.syntaxbrillian.com) is one of the world�s leading
manufacturers and marketers of LCD HDTVs, digital cameras, and
consumer electronics products. The Company�s lead products include
its Olevia� brand (www.Olevia.com) high-definition widescreen LCD
televisions � one of the fastest growing LCD TV brands � and
Vivitar brand (www.vivitar.com) digital still and video cameras.
Syntax-Brillian has built an Asian supply chain coupled with an
international manufacturing and distribution network to support
worldwide retail sales channels and position the Company as a
market leader in consumer digital entertainment products.
Forward-looking Statements: Certain statements contained in this
press release may be deemed to be forward-looking statements under
federal securities laws, and Syntax-Brillian intends that such
forward-looking statements be subject to the safe harbor created
thereby. Syntax-Brillian cautions that these statements are
qualified by important factors that could cause actual results to
differ materially from those reflected by the forward-looking
statements contained herein. Such factors include changes in
markets for the Company�s products; changes in the market for
customers� products; the failure of the Company�s products to
deliver commercially acceptable performance; the ability of the
Company�s management, individually or collectively, to guide the
Company in a successful manner; the appeal determination by the
NASDAQ Listing Qualifications Panel; and other risks detailed in
Syntax-Brillian�s Annual Report on Form 10-K for the fiscal year
ended June�30, 2007 and subsequent filings with the Securities and
Exchange Commission. Brillian and Vivitar are trademarks or
registered trademarks of Syntax-Brillian Corporation. All other
trademarks are the property of their respective owners.
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