Amplicon Announces Stock Repurchase Program.SANTA ANA Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif.--(BUSINESS WIRE)--May 5, 1999-- Amplicon Inc. (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 :AMPI AMPI Asociación Mexicana de Profesionales Inmobiliarios (Mexican Association of Real Estate Professionals) AMPI Associated Milk Producers Inc. AMPI Adaptive Message Passing Interface AMPI Automated Mission Planning Infrastructure ) Wednesday announced that its board of directors has approved a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program for up to 600,000 shares, which is approximately 5 percent of the fully diluted shares outstanding. The stock repurchases may be made from time to time in the open market or in negotiated transactions at management's discretion. "We currently have $57 million of cash and investments and coupled with our goal to enhance long-term shareholder value, we believe this is one of the best investments Amplicon can make at this time," said Patrick E. Paddon, chairman, president and chief executive officer of Amplicon. Paddon added, "This repurchase plan will also help offset the dilutive effects of our employee stock option plan." Amplicon leases high technology capital assets capital assets n. equipment, property, and funds owned by a business. (See: capital, capital account) nationwide by utilizing an innovative direct marketing system supported by a sales management organization that delivers cost effective leasing alternatives to meet customer needs. The company is based in Orange County, Calif. |
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