BRIDGEWATER, N.J.--(BUSINESS WIRE)--Aug. 22, 2017--
Synchronoss Technologies, Inc. (NASDAQ:SNCR), the leader in mobile cloud
innovation for mobile carriers, enterprises, retailers and OEMs around
the world, today announced that it has received an anticipated letter
from the Listing Qualifications Department of The NASDAQ Stock Market
(“Nasdaq”) notifying the Company of its noncompliance with Nasdaq
Listing Rule 5250(c)(1) because the Company has not yet filed its
Quarterly Report on Form 10-Q for the quarter ended June 30, 2017.
Nasdaq previously granted the Company an exception from its continued
listing requirements until November 13, 2017 to file all delinquent
periodic reports, including its delinquent Quarterly Report on Form 10-Q
for the period ended March 31, 2017. In connection with its delinquency
in filing its Quarterly Report on Form 10-Q for the period ended June
30, 2017, Nasdaq has requested an update to the Company’s original plan
to regain compliance with Nasdaq’s continued listing requirements.
The Company intends to regain compliance with Nasdaq’s filing
requirements, and will file its delinquent periodic reports as soon as
The notification of noncompliance has no immediate effect on the listing
or trading of Synchronoss’ common stock on the Nasdaq Global Select
Market under the symbol “SNCR”.
About Synchronoss Technologies, Inc.
Synchronoss (NASDAQ: SNCR) is an innovative software company that helps
both service providers and enterprises realize and execute their goals
for mobile transformation now. Our simple, powerful and flexible
solutions serve millions of mobile subscribers and a large portion of
the Fortune 500 worldwide today. For more information, visit us at www.synchronoss.com.
This press release contains certain “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include, but are not limited to, plans,
objectives, expectations and intentions and other statements contained
in this press release that are not historical facts and statements
identified by words such as “expects,” “anticipates,” “intends,”
“plans,” “believes,” “seeks,” “estimates,” “outlook” or words of similar
meanings. These statements are based on our current expectations and
beliefs and various assumptions. There can be no assurance that we will
realize these expectations or that these beliefs will prove correct.
Examples of forward-looking statements include, but are not limited to,
statements we make regarding the timing of the filing of the Company’s
Quarterly Report on Form 10-Q for the periods ended March 31, 2017 and
June 30, 2017. Numerous factors, many of which are beyond our control,
could cause actual results to differ materially from those expressed as
forward-looking statements. These factors include, but are not limited
to, risks associated with fluctuations in our financial and operating
results; integration of our Intralinks business and execution of our
cost reduction plan; our substantial level of debt and related
obligations, including interest payments, covenants and restrictions;
uncertainty regarding increased business and renewals from existing
customers; the dependence of our Intralinks business on the volume of
financial and strategic business transactions; disruptions to the
implementation of our strategic priorities and business plan caused by
changes in our senior management team; customer renewal rates and
attrition; customer concentration; our ability to maintain the security
and integrity of our systems; foreign currency exchange rates; the
financial and other impact of previous and future acquisitions;
competition in the enterprise and mobile solutions markets; our ability
to retain and motivate employees; technological developments; litigation
and disputes and the costs related thereto; unanticipated changes in our
effective tax rate; uncertainties surrounding domestic and global
economic conditions; other factors that are described in the “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” sections of the Company’s Annual
Report on Form 10-K for the year ended December 31, 2016, which is on
file with the Securities and Exchange Commission (the “SEC”) and
available on the SEC’s website at www.sec.gov.
The Company does not undertake any obligation to update any
forward-looking statements contained in this press release as a result
of new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170822006173/en/
Source: Synchronoss Technologies, Inc.
Investors and Media:
Synchronoss Technologies, Inc.
Ives, +1 908-524-1047