Cybex International, Medway, MA, announced Tuesday that the NASDAQ Stock Market confirmed its compliance with all required standards for listing on the market.
Cybex’s listing had been in jeopardy because it was unable to comply with NASDAQ’s requirements to have a minimum stockholders’ equity of $10 million, a minimum bid price for its common stock of $1 per share and a minimum market value of publicly held shares of $5 million.
In January, NASDAQ had extended to March 12, 2012, the deadline for Cybex to have a closing bid price above $1 for a minimum of 10 consecutive trading days. Up to that point, Cybex’s stock price had not been $1 or higher since May 4, 2011. However, since settlement of the Barnhard vs. Cybex International product liability lawsuit on Feb. 6, Cybex's stock bid price has risen to more than $1 and stayed there. It closed Tuesday at $2.25.
Despite the issues with the Barnhard case and the delisting threats, Cybex had sales growth in 2011.