|[March 01, 2012]
RF Monolithics Regains Compliance with Nasdaq Listing Requirements
DALLAS --(Business Wire)--
RF Monolithics (News - Alert), Inc. (NASDAQ: RFMI) ("RFM" or "the Company"), a
leader in machine-to-machine (M2M) wireless communications, announced
today that on February 29, 2012, the Company received a letter from The
Nasdaq Stock Market ("Nasdaq") confirming that it has regained
compliance with the $1.00 minimum closing bid price requirement for
continued listing on The Nasdaq Capital Market under Listing Rule
5550(a)(2). Pursuant to Nasdaq's rules, the Company's common stock was
required to achieve a closing bid price of $1.00 per share or greater
for 10 consecutive business days which occurred on February 28, 2012.
The Company's shares will continue to be traded on The Nasdaq Capital
Market under the symbol RFMI, and the matter is now considered closed.
Buddy Barnes, Chief Financial Officer of RFM, commented, "We are pleased
to have regained compliance with the Nasdaq's continued listing
requirements. We have shown recent improvements at RFM, including
renewal of our bank working capital facility which was extended for two
years with improved terms and a reduced interest rate floor.
Additionally, we renewed and extended our mortgage facility for 10 years
at a lower interest rate. As previously stated, we continue to develop
new products and increase sales opportunities in anticipation of growing
the business in fiscal 2012."
RF Monolithics, Inc., headquartered in Dallas, Texas, is a provider of
solutions-driven, technology-enabled wireless connectivity for a broad
range of wireless applications-from individual standard and custom
components to modules for comprehensive industrial wireless sensor
networks and machine-to-machine (M2M) technology. For more information
on RF Monolithics, Inc., please visit the Company's website at http://www.RFM.com.
This news release contains forward-looking statements, made pursuant
to the Safe Harbor Provision of the Private Securities Litigation Reform
Act of 1995, that involve risks and uncertainties. Statements of
the plans, objectives, expectations and intentions of RFM and/or its
wholly-owned subsidiaries (collectively, the "Company" or "we") involve
risks and uncertainties. Statements containing terms such as
"believe", "expect", "plan", "anticipate", "may" or similar terms are
considered to contain uncertainty and are forward-looking statements.
Such statements are based on information available to management as
of the time of such statements and relate to, among other things,
expectations of the business environment in which we operate,
projections of future performance, perceived opportunities in the market
and statements regarding our mission and vision, and future
financial and operating results. Such statements are not guarantees of
future performance and involve certain risks, uncertainties and
assumptions, including risks related to economic conditions as related
to our customer base, collection of receivables from customers who may
be affected by economic conditions, the highly competitive market in
which we operate, rapid changes in technologies that may displace
products sold by us, declining prices of products, our reliance on
distributors, delays in product development efforts, uncertainty in
consumer acceptance of our products, changes in our level of sales or
profitability, manufacturing and sourcing risks, availability of
materials, cost of components for our products, product defects and
returns, as well as the other risks detailed from time to time in our
SEC (News - Alert) reports, including the report on Form 10-K for the year ended August
31, 2011. We do not assume any obligation to update any
information contained in this release.
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