Bairnco Announces Additional Funds Authorized for Stock Repurchase Program
February 03 2006 - 4:25PM
PR Newswire (US)
LAKE MARY, Fla., Feb. 3 /PRNewswire-FirstCall/ -- Bairnco
Corporation (NYSE:BZ) today reported that on January 26, 2006, the
Board of Directors of the Corporation authorized an additional $2.3
million bringing the total available to $5,000,000 for management
to continue its stock repurchase program subject to market
conditions and the capital requirements of the business. "Safe
Harbor" Statement under the Private Securities Litigation Reform
Act of 1995 Statements in this press release referring to the
expected future plans and performance of the Corporation are
forward-looking statements. Actual future results may differ
materially from such statements. Factors that could affect future
performance include, but are not limited to, changes in U.S. or
international economic or political conditions, such as inflation
or fluctuations in interest or foreign exchange rates; the impact
on production output and costs from the availability of energy
sources and related pricing; changes in the market for raw or
packaging materials which could impact the Corporation's
manufacturing costs; changes in the pricing of the products of the
Corporation or its competitors; the market demand and acceptance of
the Corporation's existing and new products; the impact of
competitive products; changes in the product mix; the loss of a
significant customer or supplier; production delays or
inefficiencies; the ability to achieve anticipated revenue growth,
synergies and other cost savings in connection with acquisitions
and plant consolidations; the costs and other effects of legal and
administrative cases and proceedings, settlements and
investigations; the costs and other effects of complying with
environmental regulatory requirements; disruptions in operations
due to labor disputes; and losses due to natural disasters where
the Corporation is self-insured. While the Corporation periodically
reassesses material trends and uncertainties affecting the
Corporation's results of operations and financial condition in
connection with its preparation of its press releases, the
Corporation does not intend to review or revise any particular
forward-looking statement referenced herein in light of future
events. Bairnco Corporation is a diversified multinational company
that operates two distinct businesses -- Arlon (Electronic
Materials and Coated Materials segments) and Kasco (Replacement
Products and Services segment). Arlon's principal products include
high technology materials for the printed circuit board industry,
cast and calendered vinyl film systems, custom-engineered laminates
and special silicone rubber compounds and components. Kasco's
principal products include replacement band saw blades for cutting
meat, fish, wood and metal, and on site maintenance primarily in
the meat and deli departments. Kasco also distributes equipment to
the food industry in France. DATASOURCE: Bairnco Corporation
CONTACT: Kenneth L. Bayne, Vice President Finance, Bairnco
Corporation, +1-407-875-2222, ext. 227 Web site:
http://www.bairnco.com/
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