Here is a more detailed announcement from PRNewsWire:
PR Newswire, Monday, December 22, 1997 at 16:35
CAMARILLO, Calif., Dec. 22 /PRNewswire/ -- BioSource International, Inc.
(NASDAQ:BIOI) today announced that it has extended the Company's common stock
repurchase program, and authorized the purchase of up to one million shares
during the 12-month period, from December 22, 1997 to December 23, 1998.
The Board of Directors of BioSource International voted to extend the
duration and expand the authorized number of shares purchasable in the program
at its regularly scheduled meeting on December 12, 1997. The existing program
was intended to maintain sufficient holdings of BioSource International stock
to balance shares issued upon exercise of options by participants in the
Company's employee stock option plan (thereby reducing dilution from such
plans), and for other corporate objectives. In light of the recent price
range of the Company's stock, the Board determined to more aggressively
purchase shares, which it considers to be an excellent investment.
BioSource International's stock repurchase program was initiated for a
12-month period on April 22, 1997, and was previously authorized to purchase
up to 200,000 shares of common stock. Through the period ended on December
19, 1997 the Company purchased 200,000 shares at an average price of $6.37 per
share.
BioSource International, Inc. is a Camarillo, Calif., based supplier of
immunological reagents and tests kits used in biomedical research. The
Company offers more than 1,300 products, including recombinant proteins,
monoclonal antibodies and ELISA assay kits to a variety of antigens, and
custom DNA segments (oligonucleotides). For the year ended December 31, 1996,
BioSource reported earnings of $2,767,198, or $.35 per share, on revenues of
$15,913,274.
This News Release may contain forward-looking statements that involve
risks and uncertainties, including risks described from time to time in
reports filed by BioSource with the Securities and Exchange Commission,
including its most recently filed Annual Report on Form 10-K.
SOURCE BioSource International, Inc.
-0- 12/22/97
/CONTACT: Anna Anderson, Chief Financial Officer, or Aspasia Alexander,
Investor Relations of BioSource International, Inc., 805-987-0086; or media,
Matthew Schmidt of FS Communications, 650-691-1488, for BioSource
International, Inc./ |
