PLAINVIEW, N.Y. (AP) -- Veeco Instruments Inc. said Friday that the Nasdaq Stock Market LLC has notified the company that it is not in compliance with listing rules due to a failure to file a quarterly report on time.
Veeco said last month that it would delay its third-quarter report because it was reviewing the timing of how some of its revenue is recognized. The company said the review is not related to the performance of its products or their acceptance by customers.
The company said it may have to restate some of its previous quarterly results if it is required to change the timing of its revenue recognition.
Nasdaq told Veeco that it must submit a plan by Jan. 22 to regain compliance.
The company, based in Plainview, N.Y., makes LED, power electronics, hard drives and wireless chips.
Veeco shares fell $1.13, or 3.8 percent, to close at $28.46.
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