Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Lithia Motors Is Rolling~Hop On~LMTR -- Ignore unavailable to you. Want to Upgrade?

To: TWICK who wrote (9)	9/29/1998 10:22:00 AM
From: upndn	Respond to of 15

From the si RXSD thread, BOCA RATON, Fla., Sept. 29 /PRNewswire/ -- Rexall Sundown, Inc. (Nasdaq: RXSD) today announced that its Board of Directors has authorized a share repurchase program, which will allow the Company to buy up to $100 million of its common stock. Under the terms of the program, which has no expiration date, the Company expects to buy shares from time to time in the open market or in privately negotiated transactions, depending on market conditions and other factors. At yesterday's closing price of $16 1/4, the repurchase program would allow the Company to buy approximately 8.5% of the total common stock outstanding or nearly 17% of the shares in the public float. As of May 31, 1998, the end of its third fiscal quarter, Rexall Sundown had $99.6 million in cash and marketable securities and no long-term debt on its Balance Sheet. "The action taken by the Board of Directors reflects our continued confidence in the Company, its future growth potential and our positive outlook regarding the long-term fundamentals of the vitamin and nutritional supplement industry," said Carl DeSantis, Chairman of the Board. "The Board believes that this repurchase program represents an attractive investment opportunity which will benefit our shareholders."