Carlyle Industries, Inc. Announces Intent to Repurchase Stock.Business Editors CARLSTADT, N.J.--(BUSINESS WIRE)--Jan. 6, 2000 Carlyle Industries, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CRLH CRLH Composite Right/Left-Handed ) 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 of up to 1.0 million shares (approximately seven percent) of the company's common stock. The company stated that it believes its stock is currently 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. in the market and that the repurchase program represents a good use of capital. The purchases, which will be funded from existing cash or current earnings, will be made from time to time as market conditions permit. Repurchased shares will be held as treasury stock and may be used for existing or future stock options or other corporate purposes. The closing price of the company's common stock on January 5, 2000, was $.625. During the last 52 weeks the stock has traded between $1.75 and $.4375. Total shares outstanding are approximately 13.9 million. Carlyle, through its Blumenthal Lansing and Westwater subsidiaries, packages and distributes an extensive variety of buttons, trimmings, gifts and craft products to mass merchandisers, specialty stores Noun 1. specialty store - a store that sells only one kind of merchandise shop, store - a mercantile establishment for the retail sale of goods or services; "he bought it at a shop on Cape Cod" and independent retailers. |
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