MELVILLE, N.Y., Aug. 24, 2017 /PRNewswire/ -- P&F Industries, Inc. (Nasdaq: PFIN)
today announced that it has adopted a written trading plan for the
purpose of repurchasing up to 100,000 shares of its common stock in
accordance with the guidelines specified under Rule 10b5-1 under
the Securities Exchange Act of 1934. This plan is effective today
and purchases will commence under the plan provided that the
purchase parameters set forth in the plan are met.
A plan under Rule 10b5-1 allows companies to repurchase shares
at times when it might otherwise be prevented from doing so by
securities laws or because of self-imposed trading blackout
periods. Repurchases made under the plan are subject to the
Securities and Exchange Commission's regulations, as well as
certain price, market, volume, and timing constraints specified in
the plan. Since repurchases under the plan are subject to certain
constraints, there is no guarantee as to the exact number of shares
that will be repurchased under the plan. This plan has been
established pursuant to the Company's share repurchase program,
which, as previously announced on August 10,
2017, authorizes share repurchases of up to 100,000 over a
period of up to twelve months.
About P&F Industries, Inc.
P&F Industries, Inc., through its wholly owned subsidiaries,
manufactures and/or imports air-powered tools and accessories, sold
principally to the retail, industrial, automotive and aerospace
markets. P&F's products are sold under its own trademarks
and other trade names, as well as under the private labels of major
manufacturers and retailers.
Forward Looking Statements.
Statements contained in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Generally, the inclusion
of the words "believe," "expect," "intend," "estimate,"
"anticipate," "will," "may," "would," "could," "should" and their
opposites and similar expressions identify statements that
constitute forward looking statements within the meaning of the
Reform Act. Any forward-looking statements contained in this press
release and those contained in the comments of management,
including those related to the Company's future performance, are
based upon the Company's historical performance and on current
plans, estimates and expectations, which are subject to various
risks and uncertainties, including, but not limited to, those
relating to:
- Exposure to fluctuations in energy prices;
- Debt and debt service requirements;
- Borrowing and compliance with covenants under our credit
facility;
- Disruption in the global capital and credit markets;
- The strength of the retail economy in the United States and abroad;
- Supply chain disruptions;
- Customer concentration;
- Adverse changes in currency exchange rates;
- Impairment of long-lived assets and goodwill;
- Unforeseen inventory adjustments or changes in purchasing
patterns;
- Market acceptance of products;
- Competition;
- Price reductions;
- Interest rates;
- Litigation and insurance;
- Retention of key personnel;
- Acquisition of businesses;
- Regulatory environment;
- The threat of terrorism and related political instability and
economic uncertainty; and
- Information technology system failures and attacks
and those other risks and uncertainties described in the
Company's most recent Annual Report on Form 10-K and its other
reports and statements filed by the Company with the Securities and
Exchange Commission. These risks could cause the Company's actual
results in future periods to differ materially from those expressed
in any forward-looking statement made by or on behalf of the
Company. Forward-looking statements speak only as of the date on
which they are made, and the Company undertakes no obligation to
update publicly or revise any forward-looking statement, whether as
a result of new information, future developments or otherwise,
except as may be required by law. The Company cautions you against
relying on any of these forward-looking statements.
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SOURCE P&F Industries, Inc.