Home >Camera Enforcement > Revenue from Cameras > Nestor Stock Faces Removal from Nasdaq

Related News West Virginia To Turn School Buses Into Ticket Machines Red Light Camera Giant Redflex Loses $8 Million From Opposition Arizona: City Dumps Money Losing Traffic Cameras Virginia: New Type of Photo Ticketing Proposed Tennessee City Defies State Legislature, Renews Traffic Cameras View Main Topics: Camera Enforcement    Speed Cameras    Red Light Cameras    Revenue from Cameras    Camera Accuracy    Engineering/Signals Police Enforcement    Random Checkpoints    Speed Limits/Traps    Tickets and Cash    Seizure/Confiscation    Parking Tickets    Taxes and Tolls    Drunk Driving Laws Miscellaneous Issues    Miscellaneous    Hypocrisy    Bad Policy and Injustice    Propaganda    New Technologies    Privacy Issues The Revolt    Protests    Camera Destruction Subscribe via RSS or E-Mail Back To Front Page

4/28/2007 Nestor Stock Faces Removal from Nasdaq Desperate photo enforcement vendor Nestor, Inc. faces delisting from the Nasdaq capital market. The Nasdaq stock exchange last week warned Nestor Inc., that the financially troubled photo enforcement vendor faces delisting from the capital market. For the past thirty trading days, Nestor stock closed below the $1 per-share mark, in violation of Nasdaq's minimum requirements. The stock closed at 81 cents on Friday. Nasdaq gave Nestor until October to comply with the rules. Nestor continues to struggle for survival, having recently lost the valuable Davenport, Iowa contract when a judge ruled the city's photo enforcement program illegal. "We have a history of net losses," the company stated in its latest annual report. "We expect to incur continuing losses for the foreseeable future due to significant marketing, product delivery, engineering and general and administrative expenses, and those losses could be substantial." The company lost $7.5 million in 2006, $6.8 million in 2005 and $6.2 million in 2004. The company's accumulated debt totaled $25,690,000 last year when the company was kicked off of the Nasdaq Global Market. A lien has been placed on nearly all of the company's assets. "We will need to generate significantly higher revenue, or reduce costs, to achieve profitability, which we may be unable to do," the annual report admitted.

Front Page | Get Updates | Site Map | News Achive | Search | theNewspaper.com: A journal of the politics of driving