OSI Systems Board Authorizes Additional 1,000,000 Shares for Share Buyback Program
April 24 2013 - 8:30AM
Business Wire
OSI Systems, Inc. (NASDAQ: OSIS) today announced that the
Company's board of directors has authorized the purchase of up to
1,000,000 additional shares under the Company’s existing stock
repurchase program, to a total of 4,000,000 shares authorized for
purchase. Since inception of the stock repurchase program,
originally established in 1999 and amended in 2004, the Company has
purchased an aggregate of 2,589,960 shares of common stock, leaving
up to 1,410,040 shares authorized for purchase under the current
program, as increased.
Purchases may be made from time to time in the open market or in
privately negotiated transactions and block trades, in accordance
with federal securities laws, including Rule 10b-18 promulgated
under the Securities Exchange Act of 1934, as amended. This program
does not have an expiration date. The share repurchase program may
be modified, terminated or expanded by the company at any time
without prior notice. There is no guarantee as to the exact number
of shares, if any, that will be purchased by the company. The
amount and timing of any purchases will depend on a number of
factors, including price, trading volume, general market
conditions, legal requirements, and other factors.
About OSI Systems, Inc.
OSI Systems, Inc. is a vertically integrated designer and
manufacturer of specialized electronic systems and components for
critical applications in the homeland security, healthcare, defense
and aerospace industries. We combine more than 30 years of
electronics engineering and manufacturing experience with offices
and production facilities in more than a dozen countries to
implement a strategy of expansion into selective end product
markets. For more information on OSI Systems, Inc. or any of its
subsidiary companies, visit www.osi-systems.com. News Filter:
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This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements relate to the Company’s current
expectations, beliefs, projections and similar expressions
concerning matters that are not historical facts and are not
guarantees of future performance. Forward-looking statements
involve uncertainties, risks, assumptions and contingencies, many
of which are outside the Company’s control, that may cause actual
results to differ materially from those described in or implied by
any forward-looking statement. All forward-looking statements are
based on currently available information and speak only as of the
date on which they are made. The stock repurchase program does not
obligate the Company to acquire any particular amount of common
stock, and it may be suspended or discontinued at any time. The
timing and amount of any repurchases will be determined based on
the Company's evaluation of market conditions and other factors,
including but not limited to the level of other investing
activities and uses of cash. The Company assumes no obligation to
update any forward-looking statement made in this press release
that becomes untrue because of subsequent events, new information
or otherwise, except to the extent it is required to do so in
connection with its ongoing requirements under Federal securities
laws. For a further discussion of these and other factors that
could cause the Company’s future results to differ materially from
any forward-looking statements, see the section entitled “Risk
Factors” in the Company’s Annual Report on Form 10-K for the year
ended June 30, 2012 and other risks described in documents
subsequently filed by the Company from time to time with the
Securities and Exchange Commission.
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