Golden Systems’ Shares Drop Below $1 Level

Golden Systems Inc., a Simi Valley-based company that manufactures power supplies for personal computers, reported that its stock has been deleted from the NASDAQ National Market listing after the company’s average bid price dropped below the $1 minimum.

The company suffered a severe setback when its largest customer, Compaq Computer Corp., rejected shipments of its power supplies in December. Houston-based Compaq, which accounts for 70% of Golden’s sales, cited quality concerns in its decision but added that it would accept newly made supplies from Golden.

Golden, which reported a fiscal third-quarter loss of $8.8 million, will now be traded on the NASDAQ SmallCap Market.