AFP Imaging Announces Share Repurchase Program.ELMSFORD, N.Y.--(BUSINESS WIRE)--Jan. 15, 1997--AFP Imaging Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AFPC AFPC Air Force Personnel Center AFPC American Foreign Policy Council AFPC Alliance de la Fonction Publique du Canada (Public Service Alliance of Canada; union) AFPC Advanced Financial Planning Certificate AFPC Air Force Personnel Council ) announced today that its Board of Directors has authorized management to repurchase, in the open market, up to one million shares of its common stock from time to time. The company was taking this action because it believes that the company's stock is currently trading at a significant discount to its value in addition to the substantial reduction in corporate debt that has taken place over the past year. As of December 31, 1996, the company had a total of 9,519,609 common and preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. outstanding. The timing will be dependent upon market conditions. AFP (1) (AppleTalk Filing Protocol) The file sharing protocol used in an AppleTalk network. In order for non-Apple networks to access data in an AppleShare server, their protocols must translate into the AFP language. See file sharing protocol. Imaging designs, manufactures and markets equipment and systems to hospitals, radiologists, cardiologists, dentists and other medical specialists. These products are used to generate, record, process and view hard copy diagnostic images under the AFP and DENT-X trademarks. The company also provides its BrightView product line of high resolution video monitors for diagnostic workstation applications. AFP products are distributed worldwide by three different dealer networks as well as to OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers. CONTACT: AFP Imaging Corp. David Vozick, 914/592-6100 |
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