Chattem Announces Stock Buyback.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)--Feb. 23, 1999--Chattem, Inc. (NASDAQ NASDAQin 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 Chattanooga, TN - based manufacturer of health and skin care products and the Sunsource line of dietary supplements Noun 1. dietary supplement - something added to complete a diet or to make up for a dietary deficiency diet - a prescribed selection of foods vitamin pill - a pill containing one or more vitamins; taken as a dietary supplement , announced today that it will purchase up to $5 million of its common stock from time to time in open market and privately negotiated transactions, at prevailing market prices beginning tomorrow. The Company stated that based on its current price to earnings multiple it believes its stock is significantly 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. and represents an excellent value for its shareholders. The actual number of shares to be purchased will be determined by market conditions at the time of the transactions. All forward looking statements are subject to the risks and uncertainties described in the Company's filings with the Securities and Exchange Commission. |
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