By Business Wirevia The Motley Fool
Filed under: Investing
USA Mobility Receives NASDAQ Listing Compliance Letter Due to Late Filing of Annual Report on Form 10-K
SPRINGFIELD, Va.–(BUSINESS WIRE)– USA Mobility, Inc. (NAS: USMO) , a leading provider of wireless messaging,mobile voice and data and unified communications solutions, today announced that it has received a letter from The NASDAQ Stock Market LLC notifying the Company that it is not in compliance with NASDAQ Listing Rule 5250(c)(1) because its Annual Report on Form 10-K for the year ended December 31, 2012, was not filed on a timely basis with the Securities and Exchange Commission.
As previously announced, USA Mobility is currently in the process of restating 2011 results for its software business due to a material weakness in the design of internal control over financial reporting relating to software revenue recognition processes. The Company believes there is no material impact to the previously reported interim periods of 2012. USA Mobility expects to complete the restatement process, which has delayed completion of the 2012 annual audit and the filing of the 2012 Form 10-K, as soon as practicable.
The NASDAQ letter dated April 2, 2013 requires the Company to submit a plan within 60 days to regain compliance with NASDAQ‘s filing requirements for continued listing. USA Mobility expects to have filed its 2012 Form 10-K and be in full compliance prior to the due date of the plan.
About USA Mobility
USA Mobility, Inc., headquartered in Springfield, Virginia, is a comprehensive provider of reliable and affordable wireless communications solutions to the healthcare, government, large enterprise and emergency response sectors through its wireless subsidiary, USA Mobility Wireless. In addition, through its software subsidiary, Amcom Software, it provides mission critical unified communications solutions for hospitals, contact centers, emergency management, mobile event notification and messaging nationally and internationally. As a single-source provider, USA Mobility Wireless focuses on the business-to-business marketplace and supplies wireless connectivity solutions to organizations nationwide. The Company operates the largest one-way paging and advanced two-way paging networks in the United States. USA Mobility Wireless also offers mobile voice and data services through Sprint Nextel and T-Mobile, including BlackBerry® smartphones and GPS location applications. Its product offerings include …read more
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