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Technology Stocks : HS - CHS Electronics -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (305)	12/18/1997 8:59:00 AM
From: stockaholic	Respond to of 1494

Alert: CHS ELECTRONICS SAYS TO BUYBACK UP TO 1 MLN SHRS, OR 2 PCT, OF STOCK Reuters Story - December 18, 1997 08:28

To: Mr. Pink who wrote (305)	12/18/1997 9:35:00 AM
From: BuySide	Read Replies (1) \| Respond to of 1494

CHS Announces Stock Repurchase CHS Electronics' Board Approves Stock Buyback Plan; Company Reports Continued Strong Operations -- Repurchase of Up to One Million Shares Authorized -- Taking Advantage of 'Outstanding Investment Opportunity' -- Inventory Cut to 25 Days of Sales MIAMI, Dec. 18 /PRNewswire/ -- The Board of Directors of CHS Electronics (Nasdaq: CHSE), a leading international distributor of microcomputer products, has authorized the repurchase of up to 1,000,000 shares of the company's common stock -- approximately two percent of the 48.6 million shares outstanding. Claudio Osorio, chairman and chief executive officer of CHS, said the Board approved the stock buyback plan because members believe that the company's shares have recently been significantly undervalued by the market and therefore are an outstanding investment opportunity. He said that with less than two weeks remaining in December the company continues to report strong operating results and over the past two months has reduced its day sales in inventory from 31 to 25. Any purchases under the authorization voted by the Board yesterday will be made principally through open market transactions. They may occur from time to time as market conditions warrant. "This action is an expression of our confidence in the company's current performance as well as its short-term and long-term prospects," Mr. Osorio said. "We believe it is an appropriate response to the market's apparent over-reaction to economic developments in Asia, and to the fact that our business is strong and our performance is in line with expectations." CHS Electronics' common stock, which traded at a high of $30-5/8 on October 22, 1997, closed at $l6-1/4 on Wednesday. Mr. Osorio said that at the end of November 1997 the company had 25 days of inventory, compared with 31 days as of the end of September 1997 (both numbers being based on current-month sales). Miami-based CHS Electronics is a leading international, full-service distributor of microcomputers, peripherals and software products to more than 98,000 resellers in more than 38 countries in Europe, Latin America, Asia and Africa. Unlike other computer wholesalers, CHS Electronics distributes a limited product line for a limited number of leading computer manufacturers and does so only outside the United States. The company believes that its "focused distribution" enables it to respond more quickly to customers, provide better service, and reduce inventory and working capital requirements. CHS believes it is the largest microcomputer distributor in Latin America and Europe, number one in Germany and France and number two in the United Kingdom and Switzerland. To receive additional information on CHS Electronics, Inc. via fax at no charge, dial 800-PRO-INFO and enter code CHSE. The above statements made by CHS Electronics, which are based on current expectations may differ materially from actual results. Among factors that could cause actual results to differ materially are changes in business conditions, growth in the personal computer industry and the general economy; competition; changes in product mix; and the risk factors listed by CHS Electronics' reports filed with the Securities and Exchange Commission. SOURCE CHS Electronics, Inc. CONTACT: Craig S. Toll, Chief Financial Officer of CHS Electronics, 305-908-7250; or for General Information: Jerry Meyer, for Analyst Information: Lynn Sawyer, or for Media Information: Martin Gitlin, all of The Financial Relations Board, 212-661-8030