Friday, January 16, 2009

LOUD Technologies Withdraws From NASDAQ

Woodinville, Washington-based LOUD Technologies, a maker of loudspeakers and audio systems, said Thursady afternoon that it has submitted a request to the NASDAQ to voluntarily delist its stock. The firm, which manufactures the brands Alvarez, Ampeg, Crate, EAW, Mackie, Martin Audio and TAPCO, cited the cost of maintaining its listing on NASDAQ and remaining public outweighed the benefit of being listed. Among the issues the firm outlined were costs of Sarbanex-Oxley compliance, the amount of management team effort to maintain registration, the limited trading and liquidity of its shares, lack of analyst coverage, and the likelyhood that it would fail NASDAQ financial tests in 2008.