ONSS News: That will bring the float down to about 2.5 million I believe.
Wednesday January 5, 9:58 am Eastern Time
Company Press Release
SOURCE: On-Site Sourcing
On-Site Sourcing to Repurchase Common Shares
ARLINGTON, Va., Dec. 8 /PRNewswire/ -- On-Site Sourcing (Nasdaq: ONSS - news) today announced that its Board of Directors has authorized the Company to repurchase up to
500,000 shares of its common stock.
Christopher Weiler, chairman and chief executive officer, notes, ``We believe that the stock of On-Site Sourcing is undervalued, given the growth of our document management and
imaging businesses, the market potential, our proprietary document management technology, and our experienced management team.'
According to the Company, the shares will be repurchased on the open market or negotiated transactions from time to time, subject to market conditions and general business
conditions. On-Site Sourcing expects to fund the repurchased shares through cash, as well as the proceeds from the sale of its information technology division.
This press release includes ``forward-looking statements,' within the meaning of the federal securities laws, which involve uncertainties and risks. These include statements regarding
events or developments that the Company expects or anticipates will occur in the future, such as statements about the Company's strategies to improve operating performance. A
number of risks and uncertainties could cause actual results, events and developments to differ from expectations, including the effectiveness of programs to increase revenues and
cash flow and to reduce costs, and the actions of competitors. Please refer to the Company's 1998 Annual Report on Form 10-K and its other filings with the Securities and Exchange
Commission for a complete discussion of these and other important factors that could cause results to differ materially from those projected by these forward-looking statements.
SOURCE: On-Site Sourcing |
