Home / Knowledge / News / Apparel/Garments / Alpha Pro Tech announces $2 mn stock buy back program
Alpha Pro Tech announces $2 mn stock buy back program
03
Apr '08
Alpha Pro Tech a leading manufacturer of products designed to protect people, products and environments, including disposable protective apparel and building products, announced that its Board of Directors has authorized a share repurchase of up to $2 million worth of the Company's outstanding common stock. Management anticipates repurchasing shares from time to time in open market purchases or through privately negotiated transactions.

The Company has about $300,000 available from previous repurchase programs. During 2007, the Company repurchased and retired 572,300 shares of its common stock. As of December 31, 2007, the Company had repurchased and retired a total of 2.9 million shares through seven repurchase authorizations by the Board of Directors.

The Company had approximately 25.6 million shares outstanding at December 31, 2007. As of the end of the first quarter 2008, the Company repurchased and retired an additional 466,500 shares at a cost of $ 708,000.

Al Millar, President of Alpha Pro Tech commented, “We currently believe that this is an effective use of cash as well as a benefit to our shareholders and we will continue to repurchase stock through both of these programs. Our strong balance sheet, coupled with operations that are not heavily reliant on cash, enables us to expand these efforts while our stock is at these levels.”

Repurchases may take place on the open market from time to time based on market conditions, subject to certain conditions and timing restrictions to comply with applicable rules and regulations and may be suspended for periods or discontinued as deemed necessary by the Company.

The Company has not established specific goals as to the number of shares to be acquired or the purchase price. Decisions about these matters will be based on market conditions, general business conditions and other relevant factors. If conditions are not favorable, then no purchases will be made.

Alpha Pro Tech Ltd

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X