Collins Industries' Common Stock Delisted on May 16, 2005
HUTCHINSON, Kan., May 17, 2005 -- Collins Industries, Inc. (BULLETIN BOARD: COLL) announced today that its common stock has been delisted from The Nasdaq National Market as of the opening of business May 16, 2005. The Company received a notice of such delisting on May 16, 2005 in a letter from the Nasdaq Stock Market dated May 12, 2005, stating that the Company had failed to timely file its Form 10-K for the fiscal year ended October 31, 2004 and Form 10-Q for the fiscal quarter ended January 31, 2005, as required by Nasdaq Marketplace Rule 4310(c)(14). The Nasdaq Listing Qualifications Panel (the "Panel") determined that when the Company becomes current with all of its SEC periodic reports, its shares may be relisted on The Nasdaq National Market under the maintenance standards for bid price of $1.00 rather than the new listing standards for bid price of $5.00. In the meantime, the Company anticipates that its shares will be able to be traded on the Pink Sheets.
The Company's appeal to the Nasdaq Listing and Review Council (the "Listing Council") dated April 26, 2005 is still pending. While the Company has not yet determined whether to request an additional appeal of the Panel's delisting determination dated May 16, 2005, the Panel's delisting determination will be included in the record for review by the Listing Council under the Company's original appeal.
Collins Industries, Inc. is a leading manufacturer of ambulances (including medical attack vehicles, rescue vehicles and fire emergency vehicles), North America's largest producer of Type "A" small school buses, the nation's second largest manufacturer of terminal trucks and a leader in the road construction and industrial sweeper markets. Since 1971, the Company has grown to approximately 900 employees in six plants comprising over one million combined square feet of manufacturing space. The Company sells its products throughout the United States and abroad.
For more information on Collins Industries, Inc., visit Collins Industries, Inc.'s website at http://www.collinsind.com/ .