Electroglas Announces Stock Repurchase Program.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--March 14, 1996-- Electroglas 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 : EGLS EGLS Eastside German Language School (Issaquah, WA) ) announced today that its Board of Directors has approved a program to repurchase up to one million shares of the company's common stock on the open market. Armand Stegall, vice president and chief financial officer, indicated the primary purpose of the program is to minimize the dilutive effect Dilutive effect Result of a transaction that decreases earnings per common share (EPS). of the employee equity plans while continuing to maintain appropriate levels of equity incentives for our work force. The company anticipates the repurchases of this program will be made from time to time in the future subject to market conditions and Electroglas' cash requirements. Currently, there are approximately 18 million shares of common stock outstanding. Electroglas, Inc. is a leader in the development, manufacture, marketing and servicing of automatic wafer (1) A small, thin continuous-loop magnetic tape cartridge that has been used from time to time for data storage and specialized applications. (2) The base unit of chip making. It is a slice taken from a salami-like silicon crystal ingot up to 12" (300mm) in diameter. probing equipment for use in the semiconductor industry. The company's common stock trades on the Nasdaq national market under the symbol "EGLS." CONTACT: Electroglas Inc., Santa Clara Armand Stegall, 408/727-6500 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion