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Biotech / Medical : LUNR (lunar corp)
LUNR 11.70-2.7%9:51 AM EDT
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To: Jim Langdon who wrote (14)8/7/1997 2:55:00 PM
From: Paul Getman   of 29
 
One thing that struck me in Lunar's earnings report was that the number of shares outstanding actually rose slightly from one year ago despite the company's press release earlier this year stating that they had authorization to purchase up to one million shares. I talked to the company to clear this up. The operative word here is "authorized": although LUNR is authorized to purchase up to one million shares, the company has no plans to purchase that many. In fact, they have only purchased a few shares. Their plans are to sit back and not buy back any shares unless a large block comes on the market from someone who just has to sell (for whatever reason). They'll buy back the block if they can get it at a discount.

Paul
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