Aviation General, Incorporated Comments on Stock Price.BETHANY, Okla.--(BUSINESS WIRE)--Oct. 29, 1999-- 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 ) said today that it does not know any reason for the recent weakness in the company's stock price other than it appears someone sold a large block. Pursuant to the company's stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program, the company repurchased 100,000 shares of the block. Aviation General, Incorporated will release third quarter results next week which will show a small operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of approximately $160,000. The company currently has a substantial backlog and expects to be profitable in the fourth quarter. The financial results for 1999 should be the best in the company's history with continued improvement expected for next year. 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 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 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. |
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