NCI Receives NASDAQ Notification Regarding Late Form 10-K Filing
March 24 2017 - 8:05AM
Business Wire
NCI, Inc. (NASDAQ: NCIT) (“NCI” or the “Company”), a leading
provider of information technology and professional services and
solutions to U.S. Federal Government agencies, announced today that
on March 21, 2017, it received a notice from the NASDAQ Stock
Market (“NASDAQ”) stating the Company is not in compliance with
NASDAQ Listing Rule 5250(c)(1) because the Company did not timely
file its Annual Report on Form 10-K (the “Form 10-K”) for the year
ended December 31, 2016, with the U.S. Securities and Exchange
Commission. This notification was issued in accordance with
standard NASDAQ procedures and has no immediate effect on the
listing or trading of the Company’s common stock on the NASDAQ
Global Select Market.
As previously disclosed in the Company’s Notification of Late
Filing on Form 12b-25 filed on March 16, 2017, the delay relates to
the timing of the previously announced internal investigation
initiated by the Company following its discovery that the Company’s
former controller had been embezzling money from the Company.
The NASDAQ notification of noncompliance indicates that the
Company has until May 22, 2017, to submit a plan to regain
compliance with the NASDAQ continued listing standards. The Company
expects to file its Form 10-K as soon as reasonably practicable and
intends to do so by May 22, 2017, and thereby regain compliance
with the NASDAQ continued listing standards and eliminate the
requirement to submit a plan of compliance to NASDAQ.
About NCI, Inc.:
NCI is a leading provider of enterprise solutions and services
to U.S. defense, intelligence, health and civilian government
agencies. The Company has the expertise and proven track record to
solve its customers’ most important and complex mission challenges
through technology and innovation. NCI’s team of highly skilled
professionals focuses on delivering cost-effective solutions and
services in the areas of agile development and integration;
cybersecurity and information assurance; engineering and logistics;
big data and data analytics; IT infrastructure optimization and
service management; and health and program integrity. Headquartered
in Reston, Virginia, NCI has approximately 2,000 employees
operating at more than 100 locations worldwide. For more
information, visit www.nciinc.com or email investor@nciinc.com.
Forward Looking Statements
Portions of this press release may constitute “forward-looking
statements,” and assumptions underlying such forward-looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995 (the “PSLRA”), Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Any such forward-looking statements are made
within the “safe-harbor” protections of the PSLRA and should not be
relied upon as representing our views as of any subsequent date. We
are under no obligation to, and expressly disclaim any
responsibility to, update or alter these forward-looking
statements, whether as a result of new information, future events
or otherwise. Forward-looking statements in this filing include
those regarding: (a) the Company’s internal investigation and the
timing for the completion thereof; (b) when the Company intends to
file its Form 10-K; and (c) the Company’s ability to regain
compliance with the NASDAQ continued listing standards. The
statements are based on the current beliefs and expectations of
management and as such are subject to significant risks and
uncertainties. Such forward-looking statements are based on
information available to us as of the date of this release and
involve a number of risks and uncertainties, some beyond our
control, that could cause actual results to differ materially from
those anticipated by these forward-looking statements. Such risks
include the uncertainty surrounding the timing of the Company’s
internal investigation, the Company’s ability to file its Form 10-K
before May 22, 2017, and the Company’s regaining compliance with
the NASDAQ continued listing standards. Additional information that
could lead to material changes in our performance is contained in
our filings with the Securities and Exchange Commission.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170324005136/en/
NCI, Inc.IR ContactLawrence Delaney, Jr.Investor
Relations Advisor714-734-5142orMedia ContactJoelle
ShrevesVice President of Marketing & Corporate
Communications703-707-6904
Nci, Inc. (MM) (NASDAQ:NCIT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Nci, Inc. (MM) (NASDAQ:NCIT)
Historical Stock Chart
From Apr 2023 to Apr 2024