Item 3.01               Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

 

(a)           On September 15, 2009, Analysts International Corporation (the “Company”) received a letter from The Nasdaq Stock Market (“Nasdaq”) notifying the Company that the bid price of its listed securities has closed below $1.00 per share for the last thirty (30) consecutive business days.  Consequently, a deficiency exists with regard to the minimum $1.00 per share requirement of Nasdaq Listing Rule 5450(a)(1) (the “Rule”).  The Company has until March 15, 2010 (the “Grace Period”) to achieve compliance with the Rule by maintaining a minimum closing bid price of at least $1.00 for a minimum of ten (10) consecutive business days.  In the event the Company does not regain compliance with the Rule prior to the expiration of the Grace Period, it will receive written notification that its securities are subject to delisting.  Alternatively, the Company may be eligible for an additional grace period if it meets the initial listing standards, with the exception of bid price, for The Nasdaq Capital Market.  The Nasdaq letter was issued in accordance with standard Nasdaq procedures.

 

In compliance with Nasdaq’s Listing Rule 5810(b), the Company issued a press release on September 18, 2009 to announce that the Company received the notice.  A copy of the Company’s press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

 

Item 9.01               Financial Statements and Exhibits

 

(d)           Exhibits.

 

Exhibit Number

 

Description

 

 

 

99.1

 

Press release entitled, “Analysts International Corporation Receives Nasdaq Notification Letter” issued by Analysts International Corporation on September 18, 2009

 


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

Date:  September 18, 2009

ANALYSTS INTERNATIONAL CORPORATION

 

 

 

 

 

/s/ Robert E. Woods

 

Robert E. Woods

 

Senior Vice President, General Counsel and Secretary

 


 

EXHIBIT INDEX

 

Exhibit Number

 

Description

 

 

 

99.1

 

Press release entitled, “Analysts International Corporation Receives Nasdaq Notification Letter” issued by Analysts International Corporation on September 18, 2009