Exactech Announces Stock Repurchase Authorization
December 07 2015 - 4:43PM
Business Wire
Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone
and joint restoration products for hip, knee, shoulder and spine,
announced today that its board of directors has authorized the
company to buy back up to 1.0 million shares of Exactech stock over
the next two years.
“Based on historical prices for Exactech stock, it is presently
trading at a level which presents an attractive investment
opportunity for the company itself,” said Chief Executive Officer
David Petty. “We feel confident about the business prospects for
our company as well as the likelihood of achieving these prospects.
Economic and other market conditions, available funds and future
capital requirements and alternatives available to Exactech, also
led us to believe that it is in the best interests of the company
and its shareholders for Exactech to undertake this repurchase to
further strengthen our present and future financial position.”
About Exactech
Based in Gainesville, Fla., Exactech develops and markets
orthopaedic implant devices, related surgical instruments and
biologic materials and services to hospitals and physicians. The
company manufactures many of its orthopaedic devices at its
Gainesville facility. Exactech’s orthopaedic products are used in
the restoration of bones and joints that have deteriorated as a
result of injury or diseases such as arthritis. Exactech markets
its products in the United States, in addition to more than 30
markets in Europe, Latin America, Asia and the Pacific. Additional
information about Exactech, Inc. can be found at
http://www.exac.com. Copies of Exactech’s press releases, SEC
filings, current price quotes and other valuable information for
investors may be found at http://www.exac.com and
http://www.hawkassociates.com.
An investment profile on Exactech may be found at
http://www.hawkassociates.com/profile/exac.cfm. To receive future
releases in e-mail alerts, sign up at
http://www.hawkassociates.com/about/alert.
This release contains various forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, which represent
the company’s expectations or beliefs concerning future events of
the company’s financial performance. These forward-looking
statements are further qualified by important factors that could
cause actual results to differ materially from those in the
forward-looking statements. These factors include the effect of
competitive pricing, the company’s dependence on the ability of
third party manufacturers to produce components on a basis which is
cost-effective to the company, market acceptance of the company’s
products and the effects of government regulation. Results actually
achieved may differ materially from expected results included in
these statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20151207006426/en/
Investor contactsJody Phillips, 352-377-1140Executive Vice
President of Finance & Chief Financial OfficerorMedia
contactPriscilla Bennett, 352-377-1140Vice President, Corporate
& Marketing CommunicationorHawk AssociatesJulie Marshall or
Frank Hawkins, 305-451-1888E-mail:EXAC@hawkassociates.com
Exactech, Inc. (delisted) (NASDAQ:EXAC)
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