Exchange Change

Delta Systems Inc., the Rogers automation control and software firm, plans to join the Nasdaq. Since its initial public offering in January of 2000, Delta has traded on the Canadian Venture Exchange in Toronto.

But company officials told us they should be in position to acquire a United States listing by year’s end. Among the qualifications to become a Nasdaq small cap listing is a $3 stock price. In June, Delta was trading in the $1.20 per share range.

Right now, American investors interested in buying Delta must fill out an additional form to trade in Canada. A U.S. listing would give the company access to more potential investors and far more publicity.

Delta, a major vendor to Tyson Foods Inc., would maintain a dual listing in both Canada and the U.S. at least initially.

For 2001, Delta posted a net loss of $2.8 million or 21 cents per share. It had revenues of $6.1 million and assets of $4.1 million. Company guidance given June 12 included a $12 million revenue estimate for 2002.