FOR IMMEDIATE RELEASE
For information contact:
Michael J. Stachura, Vice President and Chief Financial Officer
Charis W. Copin, Director-Investor Relations
PSC REQUESTS HEARING BEFORE NASDAQ PANEL
Rochester, New York--December 11, 2000--PSC Inc. (Nasdaq:PSCX), a global leader
in the manufacture and marketing of bar code scanning equipment and automatic
data collection solutions, today announced that it has requested a hearing
before a Nasdaq Listing Qualifications Panel to review a Nasdaq Staff
Determination that PSC fails to comply with the minimum bid price requirement
for continued listing on The Nasdaq National Market as set forth in Nasdaq
Marketplace Rule 4450(b)(04). Until there is a determination from the hearing,
scheduled for January 4, 2001, PSC will continue to trade on the National
Market. The Company said that if the Panel does not grant the Company's request
for continued listing, it would apply to list its shares on The Nasdaq SmallCap
Market. There can be no assurance that the Company's shares will be accepted for
listing on The Nasdaq SmallCap Market.
Edward J. Borey, PSC's recently appointed President and Chief Executive Officer
said, "We are actively restructuring PSC to quickly improve results and grow
profitably. We expect that solid performance ultimately will be reflected in our
valuation and PSC's stock price."
PSC Inc. is a leading manufacturer and marketer of bar code scanning and
automatic data collection solutions of the highest quality and exceptional
reliability. Its broad range of products includes a full line of laser and
non-laser based handheld and fixed position bar code scanners, two dimensional
image readers, wireless portable data terminals, warehouse management software,
bar code scan engines and verifiers and automated carton dimensioning systems.
These products are used in automated data collection solutions in the retail,
manufacturing, warehousing, logistics and package handling markets.
Headquartered in the Rochester, New York suburb of Webster, PSC has
manufacturing facilities in Webster and Eugene, Oregon. PSC has sales and
service offices throughout the Americas, Europe, Asia and Australia.
The forward-looking statements contained in this release are based on estimates
of future performance and are highly dependent upon a variety of factors which
could cause actual results to differ materially. These factors include the
market acceptance of products, competitive product offerings and pricing
pressures, the ability to control manufacturing and operating costs, the
integration of acquisitions, foreign currency and interest rate fluctuations,
fulfillment of lending agreements and the disposition of legal issues. Reference
should be made to filings with the Securities and Exchange Commission for
further discussions of factors that could affect PSC's future results.
Further information is available at the PSC web site, www.pscnet.com
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