EFI Receives Nasdaq Notice Related to Delay in 10-Q Filing
Wednesday, November 22, 2017
FREMONT, Calif. - Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation, today announced that as expected the Company received a notification letter from Nasdaq stating that the Company is not in compliance with Nasdaq listing rule 5250(c)(1), which requires timely filing of reports with the U.S. Securities and Exchange Commission. The November 15, 2017 letter was sent as a result of the Company's delay in filing its Quarterly Report on Form 10-Q for the period ending September 30, 2017 (the "Form 10-Q"), which was due November 9, 2017, as previously reported in the Company's Form 12b-25 filed with the SEC on November 13, 2017.
The Nasdaq notice has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Global Select Market. Under the Nasdaq rules, the Company has 60 days from the date of the notice either to file the Form 10-Q or to submit a plan to Nasdaq to regain compliance with Nasdaq's listing rules. If a plan is submitted and accepted, EFI could be granted up to 180 days from the Form 10-Q's due date to regain compliance.
The Company's evaluation of certain accounting-related matters, which was previously announced on November 13, 2017 and November 14, 2017 in the Company's Form 12b-25 and a Report on Form 8-K, respectively, has progressed significantly. Following the completion of the evaluation, the Company plans to file its Form 10-Q promptly.