I'm sure you probably have seen this. Although we are sometimes a little critical of the co's low visibility, let's be (very) thankful for what we have, that is, management that is focused on value. While other companies might do things differently, Immucor mgt has always followed a consistent, energetic, and reasonable program to grow revenues and company value:
NORCROSS, Ga., Aug. 26 /PRNewswire/ -- Immucor, Inc. (Nasdaq: BLUD) announced today that its Board of Directors has authorized the Company to repurchase up to an additional 800,000 shares of its common stock. The Company instituted a repurchase program in June of 1997 for up to 810,000 shares. To date 582,000 shares have been purchased under the 1997 program.
"We believe market conditions have provided us with an excellent opportunity to enhance shareholder value by purchasing stock at very attractive prices. The combined programs give us the opportunity to repurchase an additional one million shares," 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.
Commenting further, Mr. Gallup stated, "We are very pleased with our initial success with the ROSYS Plato and the ABS2000 (FDA cleared July 6, 1998). We expect installations to begin in early September and believe the associated revenue and earnings growth will ensure that our share repurchase efforts will add significant value for our shareholders. |
