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Company Also Recently Exceeded $50 Million Market Cap Requirement
DALLAS--(BUSINESS WIRE)--Nov. 3, 2006--Zix Corporation (ZixCorp(R)), (Nasdaq:ZIXI), the leader in hosted services for email encryption and e-prescribing, announced today that it has received a notice from the Nasdaq Listing Qualifications Department, which states that the company now meets the requirements for continued listing on the Nasdaq by having exceeded the $1 minimum bid price for at least 10 consecutive business days as set forth in Nasdaq Marketplace Rule 4450(b)(4).
As previously announced last week, the Company also regained compliance with the $50 million market capitalization requirement set forth in Nasdaq Marketplace Rule 4450(b)(1)(A). Because it is now in compliance with these two requirements, the Company will continue trading on the Nasdaq Global Market, formerly known as the Nasdaq National Market.
"We recognize that our Nasdaq listing is important to our shareholders, so we are pleased to have these issues resolved," said Rick Spurr, chairman and chief executive officer for ZixCorp. "More importantly, we are confident that the underlying fundamentals of the Company have never been stronger. We have delivered on our commitment to dramatically improve the efficiency of our operations, the impact of which we are now beginning to see in our financial results. We remain on our stated path to further reduce the Company's cash usage on the way to becoming cash flow positive. With these issues now behind us, the focus can return to the continued progress of both of our core businesses."
About Zix Corporation
ZixCorp is the leading provider of hosted email encryption and e-prescribing services. ZixCorp's hosted Email Encryption Service provides an easy and cost-effective way to ensure customer privacy and regulatory compliance for corporate email. Its PocketScript(R) e-prescribing service reduces costs and improves patient care by automating the prescription process between payors, doctors, and pharmacies. For more information, visit www.zixcorp.com.
CONTACT: Zix Corporation
Farrah Corley, 214-370-2175
Peter Wilensky, 214-515-7357
SOURCE: Zix Corporation