Purchasing their own stock shows me that a company has faith it itself, but also, that they think the price is undervalued currently. Anyone know how many have been purchased under the previous authorization?? I realize they can make announcements all day long, however, ACTUALLY doing it can be a different story!!
<<<Aeroflex Incorporated Board of Directors Authorizes Additional 1,000,000 Common Share Repurchase
PLAINVIEW, N.Y.--(BUSINESS WIRE)--Nov. 2, 1999--Aeroflex Incorporated (NYSE: ARX) announced today that its Board of Directors authorized the purchase of an additional 1,000,000 shares of Aeroflex common stock. There is remaining authorization to purchase approximately 560,000 shares of common stock under a previously announced program bringing the total authorization to approximately 1,560,000 common shares. Purchases will be made from time to time, depending upon market conditions, at prices deemed appropriate by management.
Aeroflex Incorporated, through its subsidiaries, utilizes advanced technologies to provide state-of-the-art microelectronic module, integrated circuit, interconnect and testing solutions used in communication applications for commercial and defense markets. It also designs and manufactures motion control systems and shock and vibration isolation systems used for commercial, industrial and defense applications.
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Contact:
Michael Gorin
President and Chief Financial Officer
516/694-6700>>>
www3.techstocks.com
My best,
T. |
