Arrhythmia Moves To Prevent Delisting Again
Fitchburg-based Arrhythmia Research Technology (NYSE: HRT) said it will move to prevent delisting by the New York Stock Exchange after it failed to file its second-quarter earnings report on time.
Arrhythmia, a medical device manufacturing and software firm, said in a statement that it’s subject to delisting procedures because it did not file the report by a “late” filing date of Aug. 19. According to Arrythmia, the filing delay is due to an ongoing internal audit related to the valuation of deferred tax assets.
Arrhythmia said it will submit a compliance plan to prevent delisting by Sept. 3. It’s the second time this year the company is moving to avoid delisting.
Meanwhile, Arrythmia reported preliminary revenue of $4.88 million in the second quarter ending June 30, compared to $4.79 million a year ago. Arrhythmia narrowed its net losses to $328,022 in the quarter, compared to $1 million in the same period in 2012.
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