Hirsch International Corp. (NASDAQ: HRSH) announced today it was notified by the Nasdaq Stock Market, Inc. that it has regained compliance with Nasdaq's Marketplace Rule 4310(c)(4) for obtaining a common stock bid price of $1.00 per share or greater for at least 10 consecutive business days.
On August 20, 2004, Nasdaq notified Hirsch of impending delisting due to the fact that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by Marketplace Rules of the Nasdaq Stock Market. However, with Hirsch's recent stock price performance, which has exceeded Nasdaq's requirements, this matter is now closed.
Hirsch operates under the name Tajima Sales & Support by Hirsch International Corp. and is the leading single source provider of advanced embroidery systems to the embroidery industry. The company supplies Tajima computer-controlled embroidery machinery, design and digitizing software, and a wide range of related products and support services. For more information, call 1.800.394.4426 or visit their website at www.tajima-hirsch.com.
Certain statements and information included in this press release constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements express our intentions, strategies, or predictions for the future. These forward looking statements involve unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Hirsch to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. A further discussion of factors that could affect Hirsch's results is included in reports filed with the Securities and Exchange Commission, including Hirsch's Annual Report on Form 10-K for the year ended January 31, 2004.