Dot Hill’s stock back to Nasdaq compliance

LONGMONT – Data-storage firm Dot Hill Systems Corp. is back in compliance with a Nasdaq stock-market rule that its closing stock price must be $1 or higher for 10 consecutive days after it dips below the $1 mark, the company said Monday.

Dot Hill’s stock price closed at 98 cents on Oct. 19, and remained below $1 until Friday, Jan. 4. The Longmont-based company’s stock trading price dipped after that but rose again to close at $1.03 on Jan. 9, said Jodi Bochert, an investor relations spokeswoman. Executives from Dot Hill (Nasdaq: HILL) made presentations at two industry investor conferences and announced a large storage contract in mid-January. Since Jan. 9, the stock has remained above $1 through Jan. 25, when it closed at $1.23.

A publicly traded company has 180 days to come back into compliance with Nasdaq rules after its stock price drops below $1. In the past year, the stock has traded at a low of 72 cents and a high of $1.65. The company is currently in a “quiet period” required by the U.S. Securities and Exchange Commission in advance of its scheduled March 11 year-end earnings report.

The computer storage industry has faced some contraction since 2008, as some competitors are purchased by each other or go out of business, Bochert said. Dot Hill’s stock was at $1.23 in midday trading on Monday.

Dot Hill has 320 or so employees, 250 of them in Longmont. The company also has offices and/or representatives in China, Germany, Japan, the United Kingdom, Singapore and in other parts of the United States.

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