Printer Friendly
The Free Library
19,573,952 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

ATS Corporation Completes Common Stock and Warrant Repurchase Program.


MCLEAN, Va. -- ATS Corporation ("ATSC (Advanced Television Systems Committee) An international digital television (DTV) standard adopted by the U.S., Canada, South Korea, Taiwan and Argentina. " or the "Company") (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:ATCT ATCT Airport Traffic Control Tower (FAA)
ATCT Air Traffic Control Tower
ATCT Air Traffic Control Transponder
ATCT Analog Toll Connecting Trunk
.OB), a leading information technology company that delivers innovative technology solutions to federal, state, and local government organizations, today announced that it has completed the common stock and warrant repurchase program authorized by its board of directors and initiated after the consummation of the acquisition of Advanced Technology Systems, Inc. ("ATS") in January of this year. Through September 7, 2007, the Company paid approximately $13.5 million in cash to redeem 2,811,400 shares of common stock at an average price of $4.80 per share and approximately $1.4 million in cash to purchase 3,705,755 warrants at an average price of $0.39 per warrant. The Company had approximately 18,283,324 common shares and 38,294,245 warrants outstanding upon completion of the program as of September 7, 2007.

ATSC Chairman, President and Chief Executive Officer, Dr. Edward Bersoff, commented, "We are pleased to have completed this initiative to improve our capital structure and we will continue to assess other means of reducing the number of our outstanding warrants to improve long-term value for both the Company and our shareholders."

About ATS Corporation

ATS Corporation operates through its subsidiaries, ATS, Reliable Integration Services, Potomac Management Group ("PMG PMG
abbr.
postmaster general


PMG
1. Postmaster General

2. Paymaster General
"), and Appix, Inc. ("Appix").

ATS is a leading provider of systems integration and application development, IT infrastructure management and strategic IT consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.)
service - work done by one person or group that benefits another; "budget separately for goods and services"
 to U.S. federal government agencies. Since its founding in 1978, ATS has been recognized for its custom software development and software integration capabilities and its deep domain expertise in federal government financial, human resource and data management systems. ATS has built and implemented over 100 mission-critical systems for clients.

ATSC leverages its IT services, management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business
service industry - an industry that provides services rather than tangible objects
, and software and systems development solutions expertise into financial institutions, insurance companies and government sponsored enterprises through a wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
, Appix. Additional information about Appix may be found at www.appix.com.

In addition, ATSC's subsidiary PMG provides government and commercial clients with in-depth, proven expertise and assistance on global maritime operations, regulations, program management, and information technology support. Additional information about PMG can be found at www.potomacmgmt.com.

Any statements in this press release about future expectations, plans, and prospects for ATSC, including statements about the estimated value of the contract and work to be performed, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 within the meaning of The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our dependence on our contracts with federal government agencies for the majority of our revenue, our dependence on our GSA (1) (Global mobile Suppliers Association, Sawbridgeworth, U.K., www.gsacom.com) A membership organization of suppliers of GSM products and services. Its goal is to promote GSM as the worldwide mobile communications standard. See GSM Association and GSM.  schedule contracts and our position as a prime contractor on government-wide acquisition contracts to grow our business, and other factors discussed in our latest annual report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 filed with the Securities and Exchange Commission on March 26, 2007. In addition, the forward-looking statements included in this press release represent our views as of September 7, 2007. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to September 7, 2007.

Additional information about ATSC may be found at www.atsva.com.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Sep 7, 2007
Words:588
Previous Article:Omnicare to Present at the Bear Stearns Healthcare Conference.
Next Article:Q-Industries' Social Network Analysis Module Cited as "Most Creative Implementation" in SugarCRM Awards.
Topics:



Related Articles
Gonzales joins departure line.
Tearing down dams helps build up fish.
Council approves zoning change.
50 examples of when to apply SSVS1.
A bid for fair value: market-based option pricing may lower expenses for share-based payments, but is it worth the cost?
CPAs as corporate directors: be diligent, not fearful.
S corporation profits or payday? CPAs must be vigilant in helping their S corporation clients pay a "reasonable" salary to shareholder-employees. But...
WB Engineers completes system design for LI senior living complex.
Rollout of JCB Global Contactless Payment Program 'J/Speedy(TM)' in Taiwan; World's First Launch by Union Bank of Taiwan for Breeze Center JCB Card.
Pioneer Announces Interim Dividend for Fiscal 2008.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles