Acme United Corporation Board Approves New Stock Buyback Program
November 14 2019 - 9:01AM
Acme United Corporation (NYSE American: ACU) announced today that
its Board of Directors approved a new stock repurchase program of
up to 200,000 of its outstanding common stock. The Company
may also repurchase up to 17,999 shares under a repurchase program
announced on November 22, 2010.
Walter C. Johnsen, Chairman and CEO, said, “Acme
United has generated over $14 million in free cash flow during the
twelve months ended September 30, 2019. We are generating strong
earnings and have been continuing to reduce our debt. Our goal is
to be positioned for growth and acquisition opportunities as well
as for appropriate stock repurchases and quarterly dividends.”
The Company’s repurchases may be affected from
time to time through solicited or unsolicited transactions in the
open market or in privately negotiated transactions. The
program does not have an expiration date or a limit on the maximum
dollar value that may be spent on repurchases. The purchases will
be made at times and in amounts as the Company deems appropriate,
based on price, general market conditions and other factors.
This program may be discontinued at any time and will be
conducted in accordance with SEC regulations and other legal
requirements.
There were 3,352,130 shares outstanding as of
November 13, 2019.
ACME UNITED CORPORATION is a
leading worldwide supplier of innovative safety solutions and
cutting technology to the school, home, office, hardware, sporting
goods and industrial markets. Its leading brands include First Aid
Only®, PhysiciansCare®, Pac-Kit®,Spill Magic®, Westcott®,
Clauss®, Camillus®, Cuda®, and DMT®. For more information, visit
www.acmeunited.com.
Forward-looking statements in this report, including without
limitation, statements related to the Company’s plans, strategies,
objectives, expectations, intentions and adequacy of resources, are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties including, without limitation, the following:
(i) changes in the Company’s plans, strategies, objectives,
expectations and intentions, which may be made at any time at
the discretion of the Company; (ii) the impact of uncertainties in
global economic conditions, including the impact on the Company’s
suppliers and customers; (iii) changes in client needs and consumer
spending habits; (iv) the impact of competition and technological
changes on the Company; (v) the Company’s ability to manage its
growth effectively, including its ability to successfully integrate
any business it might acquire; (vi) currency fluctuations; (vii)
increases in the cost of borrowings resulting from rising interest
rates; (viii) international trade policies and their impact on
demand for our products and our competitive position, including the
imposition of new tariffs or changes in existing
tariff rates; and (ix) other risks and uncertainties
indicated from time to time in the Company’s filings with the
Securities and Exchange Commission.
CONTACT: Paul G.
Driscoll Acme United
Corporation 55 Walls Drive
Fairfield, CT 06824Phone: (203)
254-6060
FAX: (203) 254-6521
Acme United (AMEX:ACU)
Historical Stock Chart
From Aug 2024 to Sep 2024
Acme United (AMEX:ACU)
Historical Stock Chart
From Sep 2023 to Sep 2024