Exhibit 99.1 |
NEWS RELEASE
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15301 W. 109TH Street, Lenexa, KS 66219 Phone: 913-647-0158 Fax: 913-647-0132
investorrelations@elecsyscorp.com
FOR IMMEDIATE RELEASE:
Contact: Karl B. Gemperli
(913) 647-0158, Phone
(913) 647-0132, Fax
investorrelations@elecsyscorp.com
ELECSYS CORPORTAION ANNOUNCES THAT IT HAS MET THE CONTINUED LISTING
STANDARDS OF THE AMERICAN STOCK EXCHANGE
Lenexa, Kansas (August 5, 2005) - Elecsys Corporation (AMEX: ASY), today
announced that it received a notice on August 3, 2005 from the American Stock
Exchange (the "AMEX" or "Exchange") Staff indicating that the Company has
resolved the previously identified continued listing deficiency based on the
Company's financial results for the quarter and fiscal year ended April 30,
2005.
As previously announced, the Company was notified in October 2003 that it was
below certain of the Exchange's continuing listing standards. The Company
submitted a plan for regaining compliance with the AMEX continued listing
standards on November 25, 2003. The AMEX accepted the plan on January 23, 2004
and granted the Company an extension until the end of April 2005 to regain
compliance with the continued listing standards. Although the Company has
regained current compliance with the AMEX continued listing standards, if within
the next twelve months the Company again falls below those standards, the
Exchange staff will review both incidents of the Company falling below the
continued listing standards. If the incidents are determined to be related, the
Exchange staff will take appropriate action, which may include delisting
procedures.
Elecsys Corporation is a publicly traded holding company with two wholly owned
subsidiaries, DCI, Inc. and NTG, Inc. DCI designs, manufactures, and integrates
custom electronic interface solutions for original equipment manufacturers in
the medical, aerospace, communications, industrial product, and other
industries. DCI has specialized capabilities to design and efficiently
manufacture custom electronic assemblies which integrate a variety of interface
technologies, such as custom liquid crystal displays, light emitting diode
displays, and keypads, with circuit boards and other electronic components. NTG
designs, markets, and provides remote monitoring solutions for the gas and oil
pipeline industry as well as other industries requiring remote monitoring
solutions. For more information, visit our website at www.elecsyscorp.com.
Safe-Harbor statement: The discussions set forth in this press release may
contain forward-looking comments based on current expectations that involve a
number of risks and uncertainties. Actual results could differ materially from
those projected or suggested in the forward-looking comments. The difference
could be caused by a number of factors, including, but not limited to the
factors and conditions that are described in Elecsys Corporation's SEC filings,
including the Form 10-KSB for the year ended April 30, 2005. The reader is
cautioned that Elecsys Corporation does not have a policy of updating or
revising forward-looking statements and thus he or she should not assume that
silence by management of Elecsys Corporation over time means that actual events
are bearing out as estimated in such forward-looking statements.
