ATLANTA — After reporting a net loss of $627,000, or 27 cents per share, in its first fiscal quarter of 2008, Sport-Haley, Inc. may be on the verge of losing its listing on the Nasdaq Global Market.
Nasdaq Stock Market, Inc. notified Sport-Haley last week that the common stock of the company, which markets the Sport Haley and Ben Hogan men’s and women’s fashion golf apparel and outerwear brands, has not maintained a minimum market value of publicly-held shares of $5 million. The company has 30 days, or until Feb. 1, 2008, to regain compliance.
Sport-Haley’s stock closed Friday, Nov. 16, at $2.92 per share.
Nasdaq also advised the company that it may want to apply to transfer its securities to The Nasdaq Capital Market, where continued inclusion requirements are generally less restrictive than the Nasdaq Global Market. Sport-Haley said it is evaluating all available options.
Sport-Haley also reported a net loss in the year-ago first quarter of $397,000, or 14 cents per share. Sales in the 2008 quarter fell 2 percent to $3.4 million from $3.49 million.