Curtis International Ltd. Announces Stock Repurchase Program.TORONTO--(BUSINESS WIRE)--Oct. 5, 1999-- CURTIS (Nasdaq:CURT) Curtis International Ltd. (Nasdaq:CURT) today announced that its Board of Directors has approved a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program whereby it may purchase up to 350,000 shares of its Common Stock, at prevailing market prices, over the next 6 months. Aaron Herzog, Curtis's president stated "the current price of our stock does not reflect the value of our company, especially considering our recently announced annual net income of $1,343,75 ($.29 per share) on revenues of over $39,000,000 which was an increase of 35 % and 43 %, respectively, over the prior year. The Company continues to target new markets and looks forward to positive revenue and earnings growth. Curtis designs, distributes and markets quality, value priced consumer electronics products. The Company offers a broad line of telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , audio, video and computer products including, telephones, answering machines, caller ID A telephone company service that sends the caller's telephone number between the first and second ring of the call. If the calling number is not blocked, the calling number is displayed on the handset or base station of the called party. systems, CD and cassette systems, portable televisions and computer accessories. The Company's products are available in approximately 2,300 stores throughout Canada and 10,000 stores in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Disclaimer: This news 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. as defined by 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; forward looking statements include statements concerning goals, objectives, strategies, plans, future events of performance, and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, governmental regulation, and other risks defined in this document and in statements filed from time to time with the Securities and Exchange commission. As such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligations to update any forward-looking statements to reflect events of circumstances after the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion