JACKSON, MI – The New York Stock Exchange has notified Sparton Corp. that it is no longer in compliance with the exchange’s listing standards. The EMS provider is considered below the criteria since the company’s market capitalization was less than $75 million over a 30 trading-day period and, at the same time, its shareowners’ equity was less than $75 million.

As of Sept. 29 Sparton’s 30 trading-day average market capitalization was $34.8 million, and as of June 28 the shareholders’ equity was $70.9 million.

Under applicable NYSE procedures, the company has 45 days from the receipt of the notice to submit a plan to demonstrate its ability to achieve compliance with the continued listing standards within 18 months. Sparton intends to submit such a plan, the company said.

Tags: Electronics manufacturing services, contract assembly, lead-free