Excel Technology, Inc. Authorizes Stock Buy Back
07 Noviembre 2006 - 7:50AM
Business Wire
Excel Technology, Inc. (NASDAQ: XLTC) announced today that its
Board of Directors had authorized a stock buy-back plan. The
buy-back program authorizes the repurchase of up to 2,000,000
shares of its Common Stock, or 16.6% of the shares of Common Stock
currently outstanding. The shares may be repurchased from time to
time in open market transactions or privately negotiated
transactions at the Company�s discretion, including the quantity,
timing and price thereof. Excel and its wholly owned subsidiaries
manufacture and market photonics-based solutions, consisting of
laser systems and electro-optical components, primarily for
industrial/commercial and scientific applications. �Safe Harbor�
Statement Under the Private Securities Litigation Reform Act This
news release contains forward-looking statements, which are based
on current expectations or beliefs concerning future events. Actual
results could differ materially from those discussed or implied in
the forward-looking statements as a result of various factors
including future economic, competitive, regulatory, and market
conditions, future business decisions, and those factors discussed
in the Company�s Form 10-K for the year ended December 31, 2005. In
light of the significant uncertainties inherent in such
forward-looking statements, readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. The Company undertakes no obligation to
update these forward-looking statements as a result of events or
circumstances after the date hereof or to reflect the occurrence of
anticipated events. Excel Technology, Inc. (NASDAQ: XLTC) announced
today that its Board of Directors had authorized a stock buy-back
plan. The buy-back program authorizes the repurchase of up to
2,000,000 shares of its Common Stock, or 16.6% of the shares of
Common Stock currently outstanding. The shares may be repurchased
from time to time in open market transactions or privately
negotiated transactions at the Company's discretion, including the
quantity, timing and price thereof. Excel and its wholly owned
subsidiaries manufacture and market photonics-based solutions,
consisting of laser systems and electro-optical components,
primarily for industrial/commercial and scientific applications.
"Safe Harbor" Statement Under the Private Securities Litigation
Reform Act This news release contains forward-looking statements,
which are based on current expectations or beliefs concerning
future events. Actual results could differ materially from those
discussed or implied in the forward-looking statements as a result
of various factors including future economic, competitive,
regulatory, and market conditions, future business decisions, and
those factors discussed in the Company's Form 10-K for the year
ended December 31, 2005. In light of the significant uncertainties
inherent in such forward-looking statements, readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. The Company undertakes no
obligation to update these forward-looking statements as a result
of events or circumstances after the date hereof or to reflect the
occurrence of anticipated events.
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