CardioDynamics Regains Compliance With NASDAQ Listing Requirements
May 27 2008 - 10:00AM
PR Newswire (US)
SAN DIEGO, May 27 /PRNewswire-FirstCall/ -- CardioDynamics
International Corporation (NASDAQ:CDICD), the innovator and leader
of impedance cardiography (ICG) technology, today announced that it
has regained compliance with Nasdaq listing requirements. On May
23, 2008, the Company received notification from Nasdaq that it is
once again in compliance with the $1.00 minimum bid price
requirement set forth in Nasdaq Marketplace Rule 4310(c)(4) and
that the Company's non-compliance announced on April 18, 2008, has
been remedied. Michael K. Perry, CardioDynamics Chief Executive
Officer, stated, "We are pleased to regain compliance with the
Nasdaq listing requirements and have the immediate threat of
delisting now clearly behind us. Investor response has been
favorable to the reverse split with our share price advancing
during challenging market conditions. We believe the reinstated
Nasdaq compliance coupled with our recent five consecutive quarters
of revenue growth, international sales momentum, continued growth
plan for 2008, and intense focus on achieving positive operating
cash flow by the fourth quarter are solid catalysts for growth in
shareholder value." About CardioDynamics: CardioDynamics, the ICG
Company, is the innovator and leader of an important medical
technology called impedance cardiography. The Company develops,
manufactures and markets noninvasive diagnostic and monitoring
technologies and medical device electrodes. The Company's ICG
Systems are being used by physicians around the world to help
battle the number one killer of men and women -- cardiovascular
disease. Partners include GE Healthcare, Philips Medical Systems
and Mindray. For additional information, please refer to the
company's Web site at http://www.cdic.com/. Forward-Looking (Safe
Harbor) Statement: Except for historical and factual information
contained herein, this press release contains forward-looking
statements, such as those relating to the company's ability to
maintain compliance with Nasdaq listing standards, future growth
and positive operating cash flows, the accuracy of which is
necessarily subject to uncertainties and risks including the
Company's primary dependence on the BioZ product line, and various
uncertainties characteristic of early growth companies, as well as
other risks detailed in the Company's filings with the SEC,
including its 2007 Form 10-K. The Company does not undertake to
update the disclosures contained in this press release. DATASOURCE:
CardioDynamics International Corporation CONTACT: Steve P. Loomis,
Chief Financial Officer of CardioDynamics, 1-800-778-4825, ext.
1015, Web site: http://www.cdic.com/
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