Monday October 21 6:02 AM EDT
Oakley Announces Share Repurchase Program
IRVINE, Calif., Oct. 21 /PRNewswire/ -- Oakley, Inc. (NYSE: 00) today announced its Board of Directors has authorized the repurchase by the company of up to three million shares of its common stock in the open market. Such repurchases may occur from time to time as market conditions warrant. Currently, there are 71.4 million shares of common stock outstanding.
Mike Parnell, Chief Executive Officer of Oakley, said, "In spite of recent activity in our stock, we are confident there has been no change in the fundamentals of our business, and we look forward to future opportunities. The decision to initiate a repurchase program was made after reviewing the company's cash position and assessing the current share price, which we believe represents an attractive investment opportunity."
Oakley is an innovation-driven designer, manufacturer and distributor of high-performance sunglasses and goggles. SOURCE Oakley, Inc.
Well Dave......
Assuming that they bought around that date, an average price would be around 15.75. That would mean that as of today, these insiders have lost about $18,375,000 for the company....Give or take a few thousand!
I guess that would just about demolishes you and blows your point out of the water. Go ahead, put your loser spin on it now. Doesn't matter if OO is 15 tomorrow, think of all the opportunities you have wasted waiting for this turkey to turn. Ha ha ha ha!
BCL
P.S. If OO does hit 15 by Jan 98, most of the people that have touted the stock on this board will ALMOST be at a break even level! |
