NYSE May Drop Sunbeam From Exchange
MIAMI (AP) _ Officials at the New York Stock Exchange have warned Sunbeam Corp. it may delist the company’s stock because it is failing to meet the exchange’s requirements.
NYSE officials said the company did not meet standards for minimum market capitalization, shareholder equity or average closing share price required to remain listed on the exchange, Sunbeam said Thursday.
Sunbeam, based in Boca Raton, primarily makes appliances, other household goods and camping gear. Last year it posted losses that fell short of Wall Street’s expectations.
In 2000, Sunbeam posted a second-quarter loss of $80.2 million, or 75 cents per share, compared with $46.9 million, or 47 cents per share in the same quarter the previous year.
Sunbeam blamed its poor performance on customers no longer buying generators and outdoor equipment in preparation for possible Y2K power outages.