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Non-Tech : CRFT-Craftmade International, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Bilow who wrote (22)	8/4/1999 3:12:00 PM
From: Dr. Microcap	Respond to of 82

CRFT is rallying nicely today! Look for Cash Divinden Increase and the 3rd 3 for 2 split in Three years in the near term! <eom>

To: Bilow who wrote (22)	8/22/1999 11:10:00 AM
From: Dr. Microcap	Respond to of 82

Company Press Release SOURCE: Craftmade International, Inc. Craftmade Board Authorizes 400,000 Share Buyback COPPELL, Texas, Aug. 16 /PRNewswire/ -- Craftmade International, Inc. (Nasdaq: CRFT - news) today announced its Board of Directors has authorized the company to buy back up to 400,000 shares of common stock. Under the plan, Craftmade may repurchase shares from time-to-time in the open market. This new buyback authorization is twice as large as the previous buyback of up to 200,000 shares authorized in March of this year. James R. Ridings, president, stated the company is taking this step for two reasons: ``As before, we believe that the stock does not reflect the company's true value, which provides us the chance to buy our stock back and then put it to use for shareholders' benefit. The company plans to place the stock in treasury and it could be used to make another acquisition or for other corporate purposes. Previously we used repurchased treasury stock to help finance the Trade Source International acquisition. ``We do not believe the stock currently reflects true value where we are coming off a fiscal year with almost 80 cents a share in net income. Plus, we believe the future looks bright,' he added. For the company's fiscal year ended June 30, 1999, it has announced on a preliminary, unaudited basis that it earned between 76 and 80 cents a share, or $5.7 to $6.0 million, on revenues of about $85 million. The revenue increase for the year was about 100 percent and net income per share rose in a range from approximately 65 to 74 percent. Mr. Ridings concluded, ``We believe the company is positioned to grow as an industry leader in fans and lighting products and to continue to gain market share with our existing product lines. We are pursuing new avenues for product and market expansion to ensure continued growth.' For additional information on Craftmade International, Inc. free of charge via the Internet, please go to tirc.com Certain statements in this News Release constitute ``forward-looking' statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Craftmade International, Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors are discussed in more detail in the Company's Form 10-K filing with the Securities and Exchange Commission. Craftmade International, Inc. is engaged in the design, distribution and marketing of ceiling fans, light kits and accessories manufactured to its specifications. The Company currently markets over 148 basic models of ceiling fans, 78 lighting fixture models and over 100 interchangeable pieces of crystal and glass under its Craftmade brand and 14 series of bathstrip lighting under its Accolade tradename to more than 1,500 retail outlets with no outlet representing more than 2% of this division's sales. The Company's wholly-owned subsidiary, Trade Source International, Inc., is engaged in the design, distribution and marketing of outdoor lighting fixtures to major retail home improvement chains, including Lowe's, Home Depot and Wal-Mart. SOURCE: Craftmade International, Inc. -------------------------------------------------------------------------------- More Quotes and News: Craftmade International Inc (Nasdaq:CRFT - news) Related News Categories: construction, retail