Printer Friendly

LAIS ANNOUNCES PLANS TO REPURCHASE STOCK

 LAIS ANNOUNCES PLANS TO REPURCHASE STOCK
 IRVINE, Calif., June 12 /PRNewswire/ -- Advanced Interventional


Systems (NASDAQ: LAIS) today announced that it plans to begin a stock repurchase program to buy up to 400,000 shares of its common stock in the open market from time to time.
 The company's chief financial officer, Richard B. Crosby, said that the decision was made in view of the low price at which the company's stock has recently traded. "LAIS is fundamentally a sound business and our coronary laser angioplasty product has an excellent record of clinical success, based on 4,000 cases performed worldwide. For these reasons, the company believes the stock is undervalued at current price levels," Crosby said.
 "The stock to be purchased will be used primarily in connection with the planned acquisition of Polymicro Technologies Inc., and also may be used for the reissuance of stock related to the company's Employee Stock Purchase Plan and stock option plans," he said.
 Advanced Interventional Systems completed its initial public offering in November 1991 and received approval from the federal Food and Drug Administration to market its laser system to treat heart disease in January 1992.
 -0- 6/12/92
 /CONTACT: Connie McCluskey of Advanced Interventional Systems, 714-586-1342 or 714-581-8510, ext. 234/
 (LAIS) CO: Advanced Interventional Systems ST: California IN: MTC SU:


JL-KJ -- LA008 -- 9544 06/12/92 09:02 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 12, 1992
Words:227
Previous Article:LAS VEGAS COMMUNITY GROUPS TARGET REDLINING, DISCRIMINATION BY AREA BANKS; CITIBANK, FIRST INTERSTATE, PRIMERIT AND VALLEY BANK COMPARED
Next Article:RVIA AND CHEVROLET SIGN RETAIL ARBITRATION AGREEMENT
Topics:


Related Articles
ADVANCED INTERVENTIONAL SYSTEMS REPORTS FISCAL 1991 RESULTS; FINANCIAL PERFORMANCE CONSISTENT WITH RECENT ANALYST PROJECTIONS
ADVANCED INTERVENTIONAL SYSTEMS SIGNS LETTER OF INTENT TO ACQUIRE SUPPLIER OF FIBER OPTICS
ADVANCED INTERVENTIONAL SYSTEMS COMPLETES ACQUISITION OF POLYMICRO TECHNOLOGIES INC.
ADVANCED INTERVENTIONAL SYSTEMS RECEIVES MARKETING APPROVAL FOR SECOND GENERATION LASER
ADVANCED INTERVENTIONAL SYSTEMS FILES PATENT INFRINGEMENT CLAIM
ADVANCED INTERVENTIONAL SYSTEMS DENIES COUNTERCLAIMS FILED IN MEDICAL PATENT DISPUTE
ADVANCED INTERVENTIONAL SYSTEMS RECEIVES MARKETING APPROVAL FOR TWO OF ITS 50-MICRON FIBEROPTIC-BASED CATHETERS
ADVANCED INTERVENTIONAL SYSTEMS ANNOUNCES SECOND QUARTER RESULTS
ADVANCED INTERVENTIONAL SYSTEMS ANNOUNCES VICE PRESIDENT OF SALES
ADVANCED INTERVENTIONAL SYSTEMS ANNOUNCES TERMINATION OF MERGER AGREEMENT AND RESTRUCTURING

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters