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Award
American Fork online TV services provider honored -- John Edwards, chief executive of Move Networks Inc., an American Fork-based Internet television services provider for cable networks including Fox, ABC and Discovery, received the 2008 Ernst & Young Entrepreneur of the Year award in the technology category. The award honors entrepreneurs who demonstrated exceptional innovation, financial performance and personal commitment to their businesses and communities.
Technology
SLC medical devices maker faces delisting from Nasdaq -- Dynatronics Corp., a Salt Lake City maker of medical devices, received a delisting notice from Nasdaq on Tuesday.
That's because the company's stock, for the past 30 days, has been closing at below the $1 per share minimum bid price required by the U.S. Securities and Exchange Commission to remain listed.
The company has 180 calendar days or until Dec. 22 to regain compliance, or it will be delisted.
"A longer and more costly assimilation of last year's acquisitions has apparently caused some to lose confidence in holding our stock," said Kelvyn H. Cullimore Jr., chairman and president of Dynatronics. "The resulting selling pressure pushed the stock price down and triggered the deficiency notice from Nasdaq.
"Fortunately, we are starting to see the improvements that motivated the acquisitions last year. Not only are capital equipment sales improving, but gross margins as a percent of sales in April and May were higher than any month this fiscal year. We believe these improvements, together with our previously announced $1.9 million in annual expense reductions, will help pave the way back to profitability." |
