Stock Repurchase Program Status
Jodi,
My initial research reveals that there has been no stock purchases made by Immucor since the repurchase program was announced on 06/02/97. In fact, the number of average outstanding shares has increased ever so slightly with each earnings report from the 8.1 million mentioned in the original release to ~8.5 million as of the last report. This could be the result of in the money options or incentives paid to key management. Remember this program is completely voluntary with no repurchase minimum stated and can be terminated at any time.
Immucor Authorizes Stock Repurchase Program
PR Newswire, Monday, June 02, 1997 at 08:28
NORCROSS, Ga., June 2 /PRNewswire/ -- Immucor, Inc. (NASDAQ:BLUD), maker of blood bank reagent systems and related products, announced today it has authorized a program to repurchase up to ten percent (10%) of its common stock in the open market. The Company currently has 8.1 million common shares outstanding.
"We believe market conditions have provided us with an opportunity to enhance shareholder value by purchasing stock at attractive prices," said Edward L. Gallup, president of Immucor. Mr. Gallup also noted that the Company is not committed to purchase any minimum number of shares, and the Company may terminate the repurchase program at any time.
Founded in 1982, Immucor manufactures and sells a complete line of reagents and systems used primarily by hospitals and donor centers in a number of tests performed to detect and identify certain properties of the cell and serum components of blood prior to transfusion.
SOURCE Immucor, Inc. 06/02/97
CONTACT: Richard J. Still or Connie Vinson, Corporate Communications, Immucor, Inc., 770-441-2051/
Regards,
Tom |
