Exhibit 99.1
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For Immediate Release
For more information, contact:
Sandra A. Frankhouse
Chief Financial Officer and Treasurer
Tel: 419-468-7600
Nasdaq Notifies PECO II of Non-Compliance
with Certain Continued Listing Requirements
GALION, Ohio – February 13, 2007 – PECO II, Inc. (Nasdaq:PIII), a full-service provider of engineering and installation on-site services and a manufacturer of communications power systems and equipment to the communications industry, announced today that it has been notified by The Nasdaq Stock Market, Inc. (Nasdaq) that the Company’s common shares have not met the minimum bid price requirement for continued listing as set forth in Marketplace Rule 4310(c)(4) and that its securities may be subject to delisting from the Nasdaq Capital Market. Nasdaq requires companies to maintain a bid price at or above $1.00. Companies are notified of minimum bid price non-compliance after 30 business days.
The Company has until August 13, 2007 to regain compliance. If at any time before that date the closing bid price is $1.00 or more for a minimum of 10 consecutive trading days, Nasdaq will provide written notification that the Company has regained compliance with the minimum bid price requirement. If the Company does not regain compliance by August 13, 2007 and is not eligible for an additional compliance period, Nasdaq will provide written notification that the Company is no longer in compliance with requirements for the inclusion in the Nasdaq Capital Market and that the Company’s common stock will be delisted.
The Company is evaluating various alternatives in the event its closing price does not meet the Nasdaq minimum bid price within the grace period.
About PECO II, Inc.
PECO II, headquartered in Galion, Ohio, provides engineering and on-site installation services and designs, manufactures and markets communications power systems and power distribution equipment. As the largest independent full-service provider of telecommunications power systems, the Company provides total power quality and reliability solutions, and supports the power infrastructure needs of communications service providers in the local exchange, long-distance, wireless, broadband and Internet markets. Additional information about PECO II can be found at www.peco2.com.
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