Lots of encouraging shareholder news. Now they just need to work on the bottom line and then things could be looking up.
Hydron Technologies, Inc. Declares Its 2nd Quarter Dividend in
Addition to Authorizing Up to a One Million Share Buy Back
BOCA RATON, Fla., June 16 /PRNewswire/ -- Hydron Technologies, Inc.
(Nasdaq: HTEC) "HyTech" announced today that on June 12, 1997 the
Board of Directors authorized the Company's regular quarterly cash
dividend of $.025 (two and one-half) cents per share, payable on
July 3, 1997 to shareholders of record as of June 26, 1997. In
addition to approving the dividend the Board has also authorized a
repurchase of up to one (1) million shares of HyTech in the open
market. The plan calls for purchases to be made from time to time
throughout the period expiring on March 31, 1998.
Harvey Tauman, President and Chief Executive Officer of HyTech,
said, "It is our intention that this will be the beginning of a long
term policy for reducing the total number of shares outstanding.
Our main objective in repurchasing shares is to increase shareholder
value. We truly believe that the purchase of our stock is a great
investment for our Company as well as a timely opportunity which
will benefit all shareholders."
On Friday, the Company announced the signing of its agreement
with its direct response television retailer. Management believes
Friday's news in addition to today's news provides a clear vision of
the Company's progress and potential growth for the future. Mr.
Tauman added, "We have a tremendous amount of experience on our side
as we enter our fifth year in electronic retailing. In addition, we
have three exciting new developments our newly developed AT&T
Secure Buy, an Internet shopping cart for the Hydron Catalog our
new vitamin and nutritional supplements line and the rights to
market the patented combination formula of Glucosamine and
Chondroitin marketed under the brand name of Cartilage Formula,
which was the subject of a best selling book." The Company is
currently marketing both vitamins and Cartilage Formula and has
begun receiving initial orders.
In addition to product sales through the Hydron Catalog shopping
cart, the Internet Website is a great way for HyTech's shareholders
to keep in touch with the Company and receive timely news. HyTech
is responding to the changing demands of its customers by providing
these new capabilities.
Hydron Technologies develops a broad range of personal care
products, including skin care, hair care, bath and body, and topical
over-the-counter pharmaceutical products, based on its proprietary
and patented Hydron polymer technology, and now has added vitamin
and nutritional supplements to complement its existing business.
The Company markets its products through direct response television
and by catalog. Catalogs are available by calling 1-800-4-HYDRON.
SOURCE Hydron Technologies, Inc.
/CONTACT: April Spring of Hydron Technologies, 561-994-6191, ext. 105/
Hydron Technologies, Inc. Concludes Re-negotiations of License
Agreement with QVC
BOCA RATON, Fl., June 13 /PRNewswire/ -- Hydron Technologies, Inc.
"HyTech" (Nasdaq: HTEC), announced today that it has concluded
re-negotiations of its license agreement with QVC, Inc. ("QVC").
The term of the Amended Agreement was extended for one year,
commencing as of June 1, 1997, and the Amended Agreement now permits
QVC to maintain its exclusive rights if QVC purchases certain
escalating minimum quantities of product over a two-year term ending
May 31, 1999, $12.5 million for the annual period ending May 31,
1998 and $30.0 million for the two (2) year period ending May 31,
1999. QVC has no obligation to purchase Hydron brand consumer
products except to maintain exclusivity under the Amended Agreement,
which renews automatically for additional two-year terms as long as
the annual minimum purchase levels are met. No assurances can be
given that QVC will meet such escalating minimum purchase levels in
order to maintain its exclusive rights.
Harvey Tauman, President and Chief Executive Officer of HyTech,
said, "We believe that it is realistic to achieve the goals set by
our amended agreement in the next year." Retail sales of Hydron
Products sold by QVC increased by 39% in the first quarter 1997 as
compared to the same time last year.
Hydron Technologies develops a broad range of personal care
products, including skin care, hair care, bath and body, and topical
over-the-counter pharmaceutical products, based on its proprietary
and patented Hydron polymer technology and now has added vitamin and
nutritional supplements to complement its existing business. The
company markets its products through direct response television and
by catalog.
SOURCE Hydron Technologies, Inc.
/CONTACT: April Spring of Hydron Technologies, Inc., 561-994-6191
Ext. 105/
/Hydron Technologies, Inc. press releases are available at no
charge through PR Newswire's Company News On-Call fax service and on
PRN's Web Site. For a menu of Hydron Technologies, Inc. press
releases or to retrieve a specific release, call 800-758-5804,
extension 238581, or prnewswire.com on the Internet./
(HTEC) |
