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Hampshire Group delays quarterly report filing

Aug '06
Apparel company Hampshire Group Limited announced that the Audit Committee of its Board of Directors has not yet completed its previously announced investigation.

Accordingly, the company is delaying the filing of its Quarterly Report on Form 10-Q for the quarter ended July 1, 2006 in order to allow the Audit Committee to complete its independent investigation and for the company to evaluate its findings. It is not yet able to determine the outcome of the matters being investigated or to evaluate the aggregate materiality of any potential issues.

The company filed a Form 12b-25 with the Securities and Exchange Commission in accordance with Rule 12b-25(a) promulgated under the Securities Exchange Act of 1934, as amended, and notified The NASDAQ Stock Market of the deferral of the filing its Quarterly Report on Form 10-Q. It has not requested a five day filing extension.

Failure to timely file the Quarterly Report with the SEC has resulted in noncompliance with NASDAQ Marketplace Rule 4310(c)(14), which is a condition for the continued listing of the company's common stock on NASDAQ.

The company also announced that the lenders under its credit facility have extended the time period for the company's compliance with a requirement that it deliver to the lenders the financial statements contained in its Quarterly Report on Form 10-Q. Pursuant to this temporary waiver, the financial statements now need to be provided to the lenders by October15, 2006, rather than August 15, 2006.

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