Berger Holdings, Ltd. Continues Stock Repurchase Program.PHILADELPHIA--(BUSINESS WIRE)--Aug. 26, 1999-- Berger Holdings, Ltd. (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 : "BGRH") announced that as of August 25, 1999 it had purchased 83,000 shares on the open market pursuant to its previously announced stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program. The Company is currently authorized by its Board of Directors to buy up to 540,000 shares. Mr. Theodore A. Schwartz, Chairman and 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. of the Company, stated, "Our management is convinced that the market is grossly undervaluing our Company and we intend to continue our stock repurchase program, subject to market conditions." He further noted, "As previously reported, Berger had cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses (EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ) of $.47 per basic share and $.35 per fully diluted share for the six months ended June 30, 1999. Historically, the second half is stronger than the first half. Furthermore, we are aggreand commercial snow guards. All of the Company'sSecurities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risk and uncertainties including but not limited to, continued acceptance of the company's products in the marketplace, competitive factors, new products and technological changes, the Company's dependence upon third-party suppliers and other risks detailed in the company's periodic reports filing with the Securities and Exchange Commission. |
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