Keithley Instruments, Inc. (NYSE: KEI), a world leader in advanced
electrical test instruments and systems, today announced that the New
York Stock Exchange ("NYSE”) has notified the Company that it is deemed
to be in compliance with the NYSE continued listing requirements. The
NYSE recently modified its continued listing requirements for minimum
market capitalization and stockholders’ equity to $50 million from $75
million.
The NYSE received approval from the Securities and Exchange Commission
for a pilot program, effective retroactively to May 12, 2009, that
modifies these continued listing requirements through October 31, 2009.
The NYSE has indicated that it anticipates making a subsequent rule
filing with the SEC prior to that date to make the rule change
permanent. The Company’s market capitalization exceeded the $50 million
threshold at the May 12, 2009 effective date, so the NYSE has removed
the ".BC” suffix that signified that the Company was not in compliance
with the NYSE continued listing standards.
The Company previously announced that it was notified by the NYSE that
it had fallen below continued listing criteria established by the NYSE
because the Company’s total market capitalization had been less than $75
million over a consecutive 30 trading-day period, while its last
reported shareholders’ equity was less than the exchange’s $75 million
requirement. The NYSE had previously notified the Company that it had
accepted the Company’s proposed plan for continued listing on the NYSE,
subject to a quarterly review process by the NYSE.
Forward-Looking Statements
Statements in this release that are not historical facts, including
those relating to compliance with the NYSE’s continued listing
requirements, are "forward-looking statements”, as defined in the
Private Securities Litigation Reform Act of 1995, that involve a number
of risks and uncertainties. Actual results may differ materially from
the results stated or implied in the forward-looking statements as a
result of a number of factors that include, but are not limited to: the
Company’s ability to maintain compliance with the NYSE’s continued
listing standards; the ultimate proposal by the NYSE and approval by the
SEC to make the numeric change to the market capitalization threshold of
the continued listing standards permanent; worldwide economic
conditions; uncertainties in the credit and capital markets; business
conditions in the semiconductor, wireless, precision electronics and
other segments of the worldwide electronics industry; competitive
factors, including pricing pressures and new products offered by
competitors; and the Company’s ability to implement planned cost savings
initiatives without adversely affecting the Company’s product
development program. Further information on factors that could cause
actual results to differ from those anticipated is included in the
Company’s annual report on Form 10-K and quarterly reports on Form 10-Q
which are filed with the Securities and Exchange Commission. In light of
these uncertainties, the inclusion of forward-looking information should
not be regarded as a representation by the Company that its plans or
objectives will be achieved. Further, the Company is not obligating
itself to revise forward-looking statements contained herein to reflect
events or circumstances after the date of this release or to reflect the
occurrence of unanticipated events.
About Keithley Instruments, Inc.
With more than 60 years of measurement expertise, Keithley Instruments
has become a world leader in advanced electrical test instruments and
systems from DC to RF (radio frequency). Our customers are scientists
and engineers in the worldwide electronics industry involved with
advanced materials research, semiconductor device development and
fabrication, and the production of end products such as portable
wireless devices. The value we provide them is a combination of products
for their critical measurement needs and a rich understanding of their
applications to improve the quality of their products and reduce their
cost of test.