In related news, the New York Stock Exchange notified Encompass in late July that it is subject to de-listing from the exchange since its stock has traded below the $1 average minimum requirement for more than 30 consecutive days. The company stated its intention to meet the listing requirements within the six months. Encompass will seek shareholder approval to effect a reverse stock split at a ratio between one for five and one for 15, to be determined by the board.
Encompass Reports Second Quarter Loss; May Be Removed From NYSE
Encompass Services Corp. reported a revenue loss of $129.7 million in the second quarter of 2002, about 13 percent down from 2001's second quarter. Continuing operations netted a loss of 5.4 million, or 17 cents per share.
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