GARDNER, Mass., Dec. 22 /PRNewswire-FirstCall/ -- Precision Optics
Corporation, Inc. (Nasdaq: POCI) announced today that it received a letter
from the Nasdaq Stock Market notifying the Company that the closing bid price
of the Company's common stock has closed at $1.00 per share or greater for at
least 10 consecutive business days, and that the Company has regained
compliance with the minimum bid price requirement for continued listing on the
Nasdaq SmallCap Market.
About Precision Optics
Precision Optics Corporation, a leading developer and manufacturer of
advanced optical instruments since 1982, designs and produces high-quality
optical thin film coatings, medical instruments, and other advanced optical
systems. The Company's medical instrumentation line includes laparoscopes,
arthroscopes and endocouplers and a world-class product line of 3-D endoscopes
for use in minimally invasive surgical procedures.
The Company is currently developing specialty instruments incorporating
its patent-pending LENSLOCK(TM) technology which ensures lower cost, easier
repairability and enhanced durability as well as ultra-small instruments (some
with lenses less than one millimeter in diameter) utilizing patent-pending
micro-precision(TM) lens technology. The Company is also exploring new
initiatives in single-molecule technology and nanotechnology for biomedical
and other applications.
Precision Optics Corporation is certified to the ISO 9001 Quality
Standard, and complies with the FDA Good Manufacturing Practices and the
European Union Medical Device Directive for CE Marking of its medical
products. The Company's Internet Website is http://www.poci.com .
Forward-looking statements contained in this news release, including those
related to the Company's products under development, are made under "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995 and
involve a number of risks and uncertainties that could materially affect
future results. These risks and uncertainties, many of which are not within
the Company's control, include, but are not limited to, the uncertainty and
timing of the successful development of the Company's new products; the risks
associated with reliance on a few key customers; the Company's ability to
maintain compliance with requirements for continued listing on the NASDAQ
SmallCap Market; the Company's ability to attract and retain personnel with
the necessary scientific and technical skills, the timing and completion of
significant orders; the timing and amount of the Company's research and
development expenditures; the timing and level of market acceptance of
customers' products for which the Company supplies components; performance of
the Company's vendors; the ability of the Company to control costs associated
with performance under fixed price contracts; and the continued availability
to the Company of essential supplies, materials and services; and the other
risk factors and cautionary statements listed from time to time in the
Company's periodic reports filed with the Securities and Exchange Commission,
including but not limited to, the Company's Annual Report on Form 10-KSB for
the year ended June 30, 2004.
SOURCE Precision Optics Corporation, Inc.