Direct Focus Inc. (DFXI) Message Board

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Gold/Mining/Energy : Direct Focus Inc. (DFXI)

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To: Gofer who wrote (539)	2/24/2000 2:33:00 PM
From: Gofer	Read Replies (1) of 768

One way to use up some cash: VANCOUVER, Wash.--(BUSINESS WIRE)--Feb. 24, 2000--Direct Focus, Inc. (Nasdaq:DFXI), a marketing company for fitness and healthy lifestyle products with a direct business model, announced today that its Board of Directors has authorized a share buyback program. The Board of Directors authorized management to repurchase up to $8 million of the Company's common stock in open-market transactions through April 30, with the terms of the purchases to be determined by management based on market conditions. The Company's cash and short-term investments at the end of the fourth quarter was approximately $35 million, up from $18 million at the end of the fourth quarter of 1998. "We believe that Direct Focus' stock is undervalued," said Brian Cook, President and Chief Executive Officer. "We have strong positive cash flows and growth prospects, and believe that stock repurchases at these levels will benefit the company and our shareholders."

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