Kid Brands Announces Acceptance by NYSE of Continued Listing Plan
EAST RUTHERFORD, NJ -- (Marketwire) -- 03/19/13 -- Kid Brands, Inc.
(NYSE: KID) today announced receipt of notice that the New York Stock
Exchange ("NYSE") has accepted the Company's plan for continued
listing. As a result, the Company's common stock will continue to be
listed on the NYSE, subject to quarterly reviews by the NYSE's
Listing and Compliance Committee to ensure the Company's progress
toward its plan to restore compliance with continued listing
On December 20, 2012, the Company announced that it was below
continued listing criteria because its average market capitalization
over a consecutive 30 trading-day period and total shareholders'
equity were each below the $50 million required.
With the NYSE's acceptance of the continued listing plan, the Company
has until June 14, 2014 in which to comply with the listing standard
described above, subject to its compliance with the NYSE's other
continued listing requirements. The Company will continue to work
proactively with the NYSE to maintain the listing of its common stock
during the relevant compliance period.
Kid Brands, Inc.
Kid Brands, Inc. and its subsidiaries are leaders in the design,
development and distribution of infant and juvenile branded products.
Its design-led products are primarily distributed through mass
market, baby super stores, specialty, food, drug, independent and
e-commerce retailers worldwide.
The Company's current operating subsidiaries consist of: Kids Line,
LLC; LaJobi, Inc; Sassy, Inc.; and CoCaLo, Inc. Through these
wholly-owned subsidiaries, the Company designs, manufactures (through
third parties) and markets branded infant and juvenile products in a
number of complementary categories including, among others: infant
bedding and related nursery accessories and decor, nursery
appliances, and diaper bags (Kids Line(R) and CoCaLo(R)); nursery
furniture and related products (LaJobi(R)); and developmental toys
and feeding, bath and baby care items with features that address the
various stages of an infant's early years (Sassy(R)). In addition to
the Company's branded products, the Company also markets certain
categories of products under various licenses, including Carter's(R)
Disney(R), Graco(R) and Serta(R). Additional information about the
Company is available at www.kidbrands.com.
Note: This press release contains certain forward-looking statements.
Additional written and oral forward-looking statements may be made by
the Company from time to time in Securities and Exchange Commission
(SEC) filings and otherwise. The Private Securities Litigation Reform
Act of 1995 provides a safe-harbor for forward-looking statements.
These statements may be identified by the use of forward-looking
words or phrases including, but not limited to, "anticipate",
"believe", "expect", "project", "intend", "may", "planned",
"potential", "should", "will" or "would". The Company cautions
readers that results predicted by forward-looking statements,
including, without limitation, those relating to the Company's future
business prospects, revenues, working capital, liquidity, capital
needs, order backlog, interest costs and income are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those indicated in the forward-looking
statements. Specific risks and uncertainties include, but are not
limited to those set forth under Item 1A, "Risk Factors", of the
Company's most recent Annual Report on Form 10-K and any subsequent
Quarterly Reports on Form 10-Q, each as filed with the SEC. The
Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
AT THE COMPANY
Marc S. Goldfarb
Senior Vice President & General Counsel
AT FTI CONSULTING
Jennifer Milan / Daniel Haykin
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