Concepts Direct, Inc. Announces Stock Buy Back Program.Business Editors LONGMONT, Colo.--(BUSINESS WIRE)--Jan. 10, 2001 Concepts Direct, Inc. (Nasdaq:CDIR CDIR Cumulative Damage Index Right Engine CDIR Chemical Demilitarization and Installation Restoration CDIR Channel Distribution Information at the Receiver ) announced today that its Board of Directors has authorized the repurchase of up to $250,000 of the Company's common stock in the open market or in privately negotiated transactions in accordance with applicable securities laws. At current prices, this would represent approximately 74,000 shares which is less than 1.5% of the total common shares outstanding. The price to be paid, timing of purchases and the manner of purchases will be at the discretion of management. J. Michael Wolfe Michael Wolfe (Born 3 April, 1945, United States) is a poet, author, and the President and Executive Producer of Unity Productions Foundation. He is also a frequent lecturer on Islamic issues at universities across the United States including Harvard, Georgetown, Stanford, SUNY , President and Chief Executive Officer, said, "The decision to repurchase our shares reflects our continued confidence in Concepts Direct's business and our belief that this is a good investment for the Company." Management also stated there has been no change in its previously announced forecast for Fourth Quarter earnings per share from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the (excluding the benefit of the Company's land sale announced December 22, 2000) of $0.29. Nevertheless, this is still only a forecast and the final results will depend on numerous variables, the most important of which are final sales figures sales figures npl → cifras fpl de ventas , completion of physical inventory tabulations, review of inventory reserves, final accumulation of cost of sale components, and the rate of customer returns following the holiday season. Depending on the extent of change resulting from these variables, management currently believes that Fourth Quarter earnings per share from continuing operations (excluding the benefit of the land sale) will exceed its second-best historical Fourth Quarter ($0.22 in 1997) and could approach the Company's best Fourth Quarter ($0.38 in 1996), although management believes that, without the benefit of the land sale, a new record is unlikely. The Company currently expects total Fourth Quarter earnings to be at least $0.67 per share including the one-time gain of $0.45 per share attributable to the land sale. Concepts Direct experienced a total loss of $0.34 per share in the fourth quarter of 1999 including a loss of $0.09 per share related to operations discontinued in the third quarter of 2000. The Fourth Quarter results will reduce the Company's total losses for the year, which the Company currently expects will be no more than $0.62 per share. Of that loss, $0.55 per share is from discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. . All EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. calculations for 2000 assume no tax effect due to net operating loss carryforwards Net operating loss carryforwards Application of losses to offset earnings in future years. accumulated during the past two years. In addition, this Fourth Quarter earnings forecast does not give effect to possible changes in generally accepted accounting practices. About Concepts Direct, Inc. Concepts Direct is a direct marketing company focused on building its catalog and Internet retailing initiatives. The Company sells personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. paper products and a diverse line of merchandise, including gift items, home decorative items, collectibles and apparel. Concepts Direct sells its merchandise via the Colorful Images, Linda Anderson, Snoopy Snoopy world’s most famous beagle. [Comics: “Peanuts” in Horn, 542] See : Dogs Snoopy imaginative dog. [Comics: “Peanuts” in Horn, 542–543] See : Illusion (TM) etc., Linda Anderson's Collectibles and the Music Stand catalogs. In addition, the Company owns and operates numerous web sites, including www.ColorfulImages.com, www.LindaAnderson.com, www.SnoopyStore.com, www.theMusicStand.com and www.NewBargains.com. Cautionary Statement 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. as such term is defined in 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. Company statements that are not historical facts, including statements about the Company's expectations, beliefs, plans and objectives are forward-looking statements and involve various risks and uncertainties, including the risks associated with starting new businesses. Additional discussion of factors that could cause actual results to differ materially from management's expectations, beliefs, plans and objectives is contained in the Company's SEC filings. |
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