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Technology Stocks : ACTM $100 Million Cable Modem Contract with MOT
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To: Rob Preuss who wrote (1115)10/20/1999 10:45:00 PM
From: Rob Preuss  Read Replies (1) of 1250
 
Wednesday October 20, 10:23 pm Eastern Time

ACT to sell 2.8 mln shares to public

HUDSON, Mass., Oct 20 (Reuters) - Electronics maker ACT
Manufacturing Inc. (NasdaqNM:ACTM - news), whose share price
has risen sharply for the past year, said Wednesday it
planned to sell 2.75 million more shares to the public.

ACT, which earlier reported higher operating earnings for the
third quarter, said in a statement it would sell 2.5 million
of the total, while some shareholders would sell the
remaining 250,000.

ACT provided no further details about the offering. Its
shares ended up 2 at 28-3/4 on the Nasdaq market, near a
recent year high of 29-12/16.

ACT said it had an operating profit of $0.28 per share on
sales of $180.1 million for the third quarter against $0.09
on $137.5 million for the same period a year ago.

But it had a net loss of $0.13 when including the cost of
acquiring CMC Industries Inc.
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