Aviation General, Incorporated Announces New Stock Repurchase Plan.Business Editors BETHANY, Okla.--(BUSINESS WIRE)--March 22, 2000 Aviation General, Incorporated (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 :AVGE AVGE Advanced Video Guidance Sensor ) announced today that its Board of Directors has authorized the purchase of up to 2,000,000 shares of the Company's outstanding common stock. Purchases of shares will be made from time to time, in either open market or negotiated transactions, subject to market conditions. The Company has completed its previously announced 1,000,000 share Stock Repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. Program and continues to believe that the market price of the Company's stock is significantly undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. . The Company believes that its market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. represents only a small fraction of the Company's value. This belief is founded in the knowledge of the investment required to build an integrated aviation company, including: engineering and design, FAA type certification, establishment of manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. , introduction of derivative models, establishment of sales, service and support and aircraft brokerage and refurbishment re·fur·bish tr.v. re·fur·bished, re·fur·bish·ing, re·fur·bish·es To make clean, bright, or fresh again; renovate. re·fur capabilities, as well as the Company's profit and growth potential. The Company believes its accomplishments in general aviation are unique and unparalleled. Aviation General is profitable and has a strong balance sheet and plans to continue to enhance its presence in the aviation industry. The Company intends to remain a publicly traded entity and to continue to build shareholder value. Aviation General, Incorporated is a publicly traded holding company with two wholly-owned subsidiaries, Commander Aircraft Company and Strategic Jet Services, Inc. Commander Aircraft Company manufactures, markets and provides support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services for its line of single engine, high performance Commander aircraft, and consulting, brokerage and refurbishment services for all types of piston aircraft through its Aviation Services division. Strategic Jet Services, Inc. provides consulting, brokerage and refurbishment services for jet aircraft. The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are encouraged to refer to the risk disclosures described in the Company's reports on forms 10-K, 10-Q and 8K, as applicable. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion