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Technology Stocks : Trimble Navigation
TRMB 80.26-3.7%Dec 12 9:30 AM EST
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To: Frank Byers who wrote (2677)8/12/1998 12:48:00 PM
From: David  Read Replies (1) of 3506
 
Here is some modest good news . . . a stock buyback program. Note the CFO's quote:

PR Newswire - August 12, 1998 11:39

SUNNYVALE, Calif., Aug. 12 /PRNewswire/ -- Trimble (Nasdaq:
TRMB) announced today that its Board of Directors has approved a
discretionary program to repurchase up to one million shares of its common
stock over time. The buyback is intended to offset dilutive effects to
Trimble's shareholders of the issuance of employee stock options and
employee stock purchases.

Funds to pay for any stock purchased will come from the company's
working capital. As of July 3, 1998, the company had cash and short
term-investments of $67 million.

"We believe our stock is undervalued at the present time," said Dennis Ing,
executive vice president and chief financial officer. "This program allows us
to take advantage of the current market condition."
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