SALT LAKE CITY--(BUSINESS WIRE)--Oct. 17, 2007--USANA Health Sciences Inc. (NASDAQ:USNA) announced that a Nasdaq Listing Qualifications Panel has determined the Company is compliant with the continued listing standards of the Nasdaq Stock Market, including the Nasdaq Marketplace Rule 4310(c)(14) related to the filing of periodic reports with the U.S. Securities and Exchange Commission. Accordingly, the Panel has determined that the Company's common stock will continue to be listed on The Nasdaq Stock Market.
USANA filed its amended Form 10-Q on October 10, 2007, which included financial statements as of June 30, 2007 in compliance with SEC regulations related to interim financial statements, and certifications by the Company's Chief Executive and Chief Financial Officers, which were omitted from the original filing.
Gilbert A. Fuller, USANA's Executive Vice President and Chief Financial Officer, said, "The Nasdaq Panel considered the entire record before it, including materials related to adverse publicity directed against USANA, and the resignation of our former accounting firm. The Panel specifically recognized that USANA's Audit Committee completed an investigation of the allegations made by third-party detractors, and that the Audit Committee found no merit to them. The Panel also noted that USANA's new auditor, PricewaterhouseCoopers LLP, undertook a thorough acceptance process before taking on USANA as a new client and completed its review process for the June 30, 2007 Form 10-Q."
The Panel's determination letter dated October 16, 2007, concluded: "Nothing revealed at the hearing raised additional doubts for the Panel about the integrity of management, the Company's business or its regulatory compliance process."
About USANA
USANA develops and manufactures high quality nutritional and personal care products that are sold directly to Associates and Preferred Customers throughout the United States, Canada, Australia, New Zealand, Hong Kong, Japan, Taiwan, South Korea, Singapore, Mexico, Malaysia, the Netherlands, and the United Kingdom. More information on USANA can be found at http://www.usanahealthsciences.com.
Safe Harbor
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Our actual results could differ materially from those projected in these forward-looking statements, which involve a number of risks and uncertainties, including reliance upon our network of independent Associates, the governmental regulation of our products, manufacturing and marketing risks, and risks associated with our international expansion. The contents of this release should be considered in conjunction with the risk factors, warnings, and cautionary statements that are contained in our most recent filings with the Securities and Exchange Commission.
CONTACT: Investors Contact:USANA Health Sciences Inc.Riley Timmer, Investor Relations, 801-954-7100investor.relations@us.usana.comorMedia Contact:EdelmanJoe Poulos, 312-240-2719
SOURCE: USANA Health Sciences Inc.
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