SAN DIEGO, May 27 CardioDynamics InternationalCorporation (Nasdaq: CDICD), the innovator and leader of impedancecardiography (ICG) technology, today announced that it has regained compliancewith Nasdaq listing requirements. On May 23, 2008, the Company receivednotification from Nasdaq that it is once again in compliance with the $1.00minimum bid price requirement set forth in Nasdaq Marketplace Rule 4310(c)(4)and that the Company's non-compliance announced on April 18, 2008, has beenremedied.
Michael K. Perry, CardioDynamics Chief Executive Officer, stated, "We arepleased to regain compliance with the Nasdaq listing requirements and have theimmediate threat of delisting now clearly behind us. Investor response hasbeen favorable to the reverse split with our share price advancing duringchallenging market conditions. We believe the reinstated Nasdaq compliancecoupled with our recent five consecutive quarters of revenue growth,international sales momentum, continued growth plan for 2008, and intensefocus on achieving positive operating cash flow by the fourth quarter aresolid catalysts for growth in shareholder value."
CardioDynamics, the ICG Company, is the innovator and leader of animportant medical technology called impedance cardiography. The Companydevelops, manufactures and markets noninvasive diagnostic and monitoringtechnologies and medical device electrodes. The Company's ICG Systems arebeing used by physicians around the world to help battle the number one killerof men and women -- cardiovascular disease. Partners include GE Healthcare,Philips Medical Systems and Mindray. For additional information, please referto the company's Web site at http://www.cdic.com.
Forward-Looking (Safe Harbor) Statement:
Except for historical and factual information contained herein, this pressrelease contains forward-looking statements, such as those relating to thecompany's ability to maintain compliance with Nasdaq listing standards, futuregrowth and positive operating cash flows, the accuracy of which is necessarilysubject to uncertainties and risks including the Company's primary dependenceon the BioZ product line, and various uncertainties characteristic of earlygrowth companies, as well as other risks detailed in the Company's filingswith the SEC, including its 2007 Form 10-K. The Company does not undertake toupdate the disclosures contained in this press release.
SOURCE CardioDynamics International Corporation