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Technology Stocks : Intevac (IVAC) !! A great takeover candidate???
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To: T Bowl who wrote (270)12/17/1997 1:02:00 AM
From: Dale Stempson  Read Replies (1) of 365
 
Re: Shares outstanding and share repurchase plan

It looks like Intevac has repurchased over 363,000 shares of common this quarter (prior to expanding the plan). This is the first time they've purchased anything since the original plan was introduced on July 17th. Here's my basis:

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From their most recent 10-Q:

"In July 1997, the Company announced a common stock repurchase plan. The repurchased shares will be used to meet the Company's current and near-term stock requirements for its employee stock issuance plans. The Company did not repurchase any shares during the three-month period ended September 27, 1997." <snip> "On September 27, 1997 approximately 12,613,900 shares of the Registrant's Common Stock, no par value, were outstanding."

And from their recent press release:

"As of December 15, 1997 there were 12,250,567 shares of the Company's Common Stock outstanding."
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I'm hoping that today's move up was simply a positive response to the press release and not the result of any additional repurchases. Intevac could make a few new friends out here if they were to have allowed some investors to buy in today on the news, and then were to begin repurchasing and moving the price up from here.

Regards - Dale
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