D&K Healthcare Resources Declares 2-For-1 Stock Split; Action Follows Stockholder Approval of an Increase in Authorized Shares.Business Editors/Health & Medical Writers ST. LOUIS--(BUSINESS WIRE)--March 13, 2002 D&K Healthcare Resources, 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 : DKWD DKWD Disk Write Data ) announced today that its Board of Directors has approved a 2-for-1 split of the Company's common stock. The stock split will be in the form of a stock dividend of one additional share of the Company's common stock for each share held. The additional shares will be distributed on April 11, 2002 to stockholders of record on March 29, 2002. As a result of the stock dividend, the number of outstanding shares of D&K's common stock will increase to approximately 14.4 million from approximately 7.2 million. Diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. shares outstanding will increase to approximately 14.8 million. The Board's action follows this morning's stockholder approval of a proposal allowing the Company to increase the number of shares of common stock it is 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: to issue from 10 million to 25 million shares. J. Hord Armstrong, III, Chairman and Chief Executive Officer, said, "The Board believes the stock dividend will further enhance the liquidity of D&K's shares and make them more attractive to a broader range of investors. The Board's decision to effect a stock dividend recognizes both D&K's strong historical growth as well as the significant long term growth opportunities we believe lie ahead." About D&K Healthcare With calendar 2001 revenues of $2.06 billion, St. Louis-based D&K Healthcare Resources, Inc., is a wholesale distributor of pharmaceutical and related healthcare and beauty aid products to independent and regional pharmacies, national pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. chains and other healthcare providers. D&K currently services customers in 24 states primarily in the Midwest and South from distribution facilities in Cape Girardeau Cape Girardeau (jĭrär`dō, jērərdō`), city (1990 pop. 61,633), Cape Girardeau co., SE Mo., overlooking the Mississippi River; founded 1793, inc. as a city 1843. , MO; Weston, FL; Lexington, KY; Minneapolis, MN; Aberdeen, SD; and Owensboro, KY. D&K also offers a variety of additional services to its customers, including inventory management, services designed to contain costs, information technology systems and various marketing programs related to generic pharmaceuticals and other products. In addition, D&K owns a 70% equity interest in Pharmaceutical Buyers, Inc., a recognized alternate-site group purchasing organization A group purchasing organization is an entity that leverages the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members. Many GPOs are funded by administrative fees that are actually paid by the vendors. . D&K invites you to visit its Web site at http://www.dkwd.com . This press release may contain 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 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. provisions 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. Such forward-looking statements are inherently subject to risks and uncertainties. D&K's actual results could differ materially from those currently anticipated due to a number of factors, including without limitation, the competitive nature of the wholesale pharmaceutical distribution industry, with many competitors having substantially greater resources than D&K, and D&K's customers generally having the right to terminate or reduce their purchases on relatively short notice, the changing business and regulatory environment of the healthcare industry in which D&K operates, changes in interest rates and other factors set forth in reports and other documents filed by D&K with the Securities and Exchange Commission from time to time. D&K undertakes no obligation to publicly update or revise any forward-looking statements. |
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