Harris regains Nasdaq compliance

The research firm was granted extra time to bring its share price in line with Nasdaq’s trading rules in February after falling foul of the minimum price rule in December last year.

Harris was given until early June to keep its share price above the $1 level. It was informed by Nasdaq this week that it had achieved the target and could continue trading on the Global Select Market. Nasdaq said the matter is now closed.

Harris is in the midst of a turnaround process. In its latest set of results, for the second quarter of fiscal 2012, it reported revenue down 13% but CEO Al Angrisani highlighted improvements to operating income and margin as evidence that the business was improving.