Chattem Announces 2-for-1 Stock Split.Business Editors CHATTANOOGA Chattanooga (chăt'ən  `gə), city (1990 pop. 152,466), seat of Hamilton co., E Tenn., on both sides of the Tennessee River near the Georgia line; inc. 1839. , Tenn.--(BUSINESS WIRE)--Oct. 30, 2002
Chattem, Inc. (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 :CHTT), a leading marketer and manufacturer of branded consumer products, today announced that its Board of Directors approved a two-for-one stock split of its common stock by means of a stock dividend of one share of the Company's stock to each shareholder of record. The Company stated that the record date for the stock dividend will be November 15, 2002 with a payment date of November 29, 2002. As a result of the stock split, the number of outstanding shares of common stock will increase to approximately 19.1 million shares from 9.5 million shares. Chattem management stated that the split confirms its confidence in the Company's continued strong operating results and opportunities for future growth as well as increasing the stock's float. Separately, the Company reaffirmed that it expects earnings per share prior to the stock split for its fourth quarter of fiscal 2002 to be in a range of $.38-.40. This press release contains 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 the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, which contains a safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements. Chattem, Inc. relies on this safe harbor in making such statements. |
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