NEWS RELEASE
Contact: Kent Tyler For Immediate Release
Vice President Marketing May 17, 2005
(620) 663-5551
Collins Industries' Common Stock Delisted on May 16, 2005
Hutchinson, Kansas - Collins Industries, Inc. (Pink Sheets: "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.
This press release contains forward-looking information. The Company's
expectations regarding the timing of the resolution of its workers compensation
investigation and filing of its Annual Report on Form 10-K and quarterly report
on Form 10-Q are examples of such forward-looking information. These statements
can be identified by terminology such as the word "expects." The forward-looking
statements are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. The Company believes the assumptions
underlying these forward-looking statements are reasonable; however, any of the
assumptions could be inaccurate, and therefore, actual results may differ
materially from those projected in the forward-looking statements due to certain
risks and uncertainties, including, but not limited to, the availability of key
raw materials, components and chassis, changes in funds budgeted by
Federal, state and local governments, changes in competition, various inventory
risks due to changes in market conditions, changes in product demand,
substantial dependence on third parties for product quality, interest rate
fluctuations, adequate direct labor pools, development of new products, changes
in tax and other governmental rules and regulations applicable to the Company,
reliability and timely fulfillment of orders and other risks as indicated in the
Company's filings with the Securities and Exchange Commission. The Company
undertakes no obligation to publicly release any revisions to any
forward-looking statements contained herein to reflect events or circumstances
occurring after the date released or to reflect the occurrence of unanticipated
events.
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Collins Industries, Inc. • 15 Compound Drive • Hutchinson, Kansas 67502-4349
• www.collinsind.com
