Dynacq International Inc. Announces Stock Repurchase Program.Business Editors & Health/Medical Writers HOUSTON--(BW HealthWire)--Sept. 19, 2001 Dynacq International Inc. (Nasdaq:DYII) today announced that that its board of directors has 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: a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program, using cash on hand and positive cash flow generated from operations. "Our board has authorized this repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. program to demonstrate our confidence in America's financial markets during these extraordinary times. Additionally, the company's same-store growth has been strong throughout fiscal year ended Aug. 31, 2001 and we remain comfortable with analyst projections of earnings per share of $0.19 for the fourth quarter. Depending on market conditions and other factors, the repurchase of company shares provides an excellent opportunity to increase shareholder value," said Chiu M. Chan, chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Dynacq. Any purchases under Dynacq's stock repurchase program may be made, from time-to-time, in the open market or in privately negotiated transactions. The timing and amount of any shares repurchased will be determined by Dynacq's management based on its evaluation of market conditions and other factors. The repurchase program may be suspended sus·pend v. sus·pend·ed, sus·pend·ing, sus·pends v.tr. 1. To bar for a period from a privilege, office, or position, usually as a punishment: suspend a student from school. at any time or from time-to-time without prior notice. As of July July: see month. 20, 2001, Dynacq had approximately 14,777,092 outstanding shares. Dynacq International Inc. specializes in creating quality and efficient community-based, one stop healthcare resource centers designed to meet the needs of physicians and their patients. Statements in this press release regarding the company's intention to repurchase shares of its common stock from time to time under the stock repurchase program and the source of funding are 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. . There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These include, among others, the market price of the company's stock prevailing from time to time, the nature of other investment opportunities presented to the company from time to time, the company's cash flows from operations, general economic conditions, and other factors identified in the company's Annual Report on Form 10-KSB and most recent Quarterly Reports on Form 10-QSB filed with the SEC. |
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