Barringer Technologies Inc.'s Board of Directors Authorizes Stock Repurchase Program.MURRAY HILL Murray Hill may refer to one of the following places:
BARR Bureau of Aeronautics Resident Representative , BARRW) today announced that its Board of Directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. of up to 1,000,000 shares or approximately 12.7% of the Company's outstanding common stock. The repurchases will be made from time to time in open market transactions in amounts as determined by the Company's management and will be funded out of the Company's working capital. Stanley Binder binder: see combine. An earlier Microsoft Office workbook file that let users combine related documents from different Office applications. The documents could be viewed, saved, opened, e-mailed and printed as a group. , Chairman and Chief Executive Officer of Barringer Technologies, said, "Our Board of Directors believes that the recent trading price Trading price The price at which a security is currently selling. of the Company's common stock does not adequately reflect the Company's intrinsic value Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. and, accordingly, offers an excellent opportunity to increase stockholder value through the repurchase of our shares. We believe that our stock represents an excellent long-term investment at its current market valuation." Headquartered in Murray Hill, New Jersey
This press release contains certain 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 Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. When used in this press release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, the following: general economic and political conditions, as well as conditions in the markets for the Company's products. Other factors may be described from time to time in the Company's public filings with the Securities and Exchange Commission, news releases and other communications. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
CONTACT: BARRINGER TECHNOLOGIES INC.
Stanley Binder, CEO
Richard S. Rosenfeld, CFO, 908/665-8200
or
Investor Relations:
Cheryl Schneider/Tessa Lavender
Press: Michael McMullan
Morgen-Walke Associates, Inc.
212/850-5600
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