Veeco not in Compliance With Nasdaq Listing

Veeco Instruments Inc. received a letter from The NASDAQ Stock Market LLC on November 26, 2012 notifying the company that it is not in compliance with NASDAQ Listing Rule 5250(c)(1) because its quarterly report on Form 10-Q for the quarter ended September 30, 2012 was not filed on a timely basis with the SEC.

As previously announced, the Form 10-Q could not be filed timely because the company is reviewing the timing of revenue recognition of MOCVD systems and related upgrades to these systems.

The NASDAQ letter notes that Veeco is required to submit a plan to regain compliance with NASDAQ’s filing requirements for continued listing by January 22, 2013.

Upon acceptance of the company’s compliance plan, NASDAQ is permitted to grant an extension of up to 180 days from the Form 10-Q’s filing due date for the company to regain compliance with NASDAQ’s requirements for continued listing.

The company continues to focus its efforts on completing the Form 10-Q filing ASAP and intends to submit a plan by January 22, 2013 to regain compliance with NASDAQ’s listing rules.