MTS RECEIVES NOTICE FROM NASDAQ REGARDING LATE FORM 10-K FILING
Eden Prairie, Minn. – MTS Systems Corporation (NASDAQ: MTSC), a leading global supplier of high-performance test systems and sensors, today announced that as a result of its inability to timely file its Annual Report on Form 10-K for the fiscal year ended October 1, 2016 (the “Annual Report”), it has received a notice from The Nasdaq Stock Market LLC (“Nasdaq”) that the company is not in compliance with Nasdaq Listing Rule 5250(c)(1) for continued listing. MTS can, and intends to, regain compliance with Nasdaq’s filing requirements for continued listing. As previously disclosed, MTS was unable to timely file its Annual Report with the U.S. Securities and Exchange Commission (the “SEC”) because of an internal investigation relating to apparent violations by certain employees in its China operations of the company’s code of conduct. As a result of this ongoing investigation, the company will be unable to file the Annual Report by the extended due date of December 15, 2016. The notification from Nasdaq notes that MTS is required to submit a plan to regain compliance with Nasdaq’s filing requirements for continued listing within 60 calendar days of the date of the Nasdaq notification letter. Upon acceptance of the company’s compliance plan, Nasdaq is permitted to grant an extension of up to 180 calendar days from the Annual Report’s filing due date, or until May 30, 2017, for the company to regain compliance with Nasdaq’s filing requirements for continued listing. The notice has no immediate effect on the listing of the MTS’s common stock on Nasdaq. About MTS Systems Corporation MTS Systems Corporation’s testing hardware, software and services solutions help customers accelerate and improve their design, development and manufacturing processes and are used for determining the mechanical behavior of materials, products and structures. MTS’s high-performance sensors provide controls for a variety of applications measuring motion, pressure, position, force and sound. MTS had 2,400 employees as of October 3, 2015 and revenue of $564 million for the fiscal year ended October 3, 2015. Additional information on MTS can be found at http://www.mts.com