Uroplasty receives compliance letter from Nasdaq Uroplasty announced today that it has received a letter from Nasdaq notifying the company that it is not in compliance with Listing Rule 5250 (c)(1) because its Annual Report for the year ended December 31, 2012, was not filed on a timely basis with the SEC. As previously announced, the company is currently in the process of reviewing its internal control over financial reporting relating to orders and the payment of sales commissions at the end of fiscal quarters and has been delayed in filing its Form 10-K pending completion of that review. The company expects to complete the review process and file is Form 10-K as soon as practicable. The Company does not currently believe that it is likely that this review will require a material revision of its previously released earnings.
Uroplasty downgraded to Hold from Buy at Craig-Hallum Craig-Hallum downgraded Uroplasty to Hold based on moderating urgent PC growth and management's focus on acquisitions to drive growth. Price target cut to $2 from $6.