New Brunswick Scientific Co., Inc. (NBSC) Message Board

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Biotech / Medical : New Brunswick Scientific Co., Inc. (NBSC)

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To: richardred who wrote (667)	11/13/2003 1:04:33 AM
From: richardred	of 724

WASHINGTON (Dow Jones)--New Brunswick Scientific Co. Inc. (NBSC) said Wednesday that the U.S. Department of Commerce said it believes the company may have failed to comply with certain export control requirements in connection with some equipment sales to Asia. According to a quarterly report filed with the Securities and Exchange Commission, the Commerce Department has the authority to impose civil monetary penalties up to $176,000 along with other sanctions. New Brunswick Scientific's management believes the matter won't hurt the company's financial condition or liquidity but could hurt the company's results of operations in any one period, the filing said. The company, which was notified in June, responded to the agency's invitation to settle the matter informally and has provided an explanation of the transactions and information about the company's compliance measures, the filing said. According to the filing, New Brunswick Scientific has made a settlement offer, which is "significantly lower" than $176,000 "reflecting the company's belief that the matter should be settled at a substantially reduced level." New Brunswick Scientific designs and makes research equipment and scientific instruments for the life sciences. -By Ben Siegel; Dow Jones Newswires; 202-862-3544 (END) Dow Jones Newswires 11-12-03 1538ET

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