Astro-Med Executes Stock Buy-Back.Business Editors/High-Tech Writers WEST WARWICK, R.I.--(BUSINESS WIRE)--April 14, 2003 Astro-Med, 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 :ALOT ALOT Allotment ALOT Adaptive Large Optics Technologies ALOT Airborne Lightweight Optical Tracking ALOT Maybe you're looking for the two word phrase 'a lot' meaning many? ) announced today that on April 11, 2003 it purchased 71,800 shares of its common stock at $3.25 per share, the closing price on that day, from an institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . The shares purchased represent about 2% of the outstanding shares. Commenting on the transaction, Albert W. Ondis, Astro-Med's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated: "We simply could not pass up the opportunity to purchase these shares at a price which was approximately 50% of book value. Our Board had authorized the purchase of 290,400 shares of Astro-Med stock. With the completion of this purchase, management has authorization to purchase an additional 218,600 shares." Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments employed around the world in a wide range of industrial, scientific, and medical applications. Additional information on Astro-Med, Inc. is available by visiting www.astromed.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This news release contains forward-looking statements, and actual results may vary from those expressed or implied herein. Factors that could affect these results include those mentioned in Astro-Med's FY 2003 annual report and its annual and quarterly filings with the Securities and Exchange Commission. |
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