IMGC Intermagnetics General

LATHAM, N.Y., Jan. 26 /PRNewswire-FirstCall/ -- Intermagnetics General Corporation (NASDAQ:IMGC) today announced that its Board of Directors has declared a three-for-two split of its common stock. The split, to be completed in the form of a 50 percent stock dividend, will be payable on February 21, 2006, to shareholders of record on February 6, 2006. Shareholders will receive one additional share of Intermagnetics' common stock for every two shares held on the record date. As of December 27, 2005, Intermagnetics had approximately twenty-eight million shares outstanding. The stock closed today at $40.07. Registered shareholders will be mailed stock certificates for the appropriate number of additional shares on the distribution date. Investors whose shares are deposited in brokerage accounts will receive notices from their brokers when accounts are credited with the new shares. Fractional shares that would have resulted from the split will be paid in cash based on the average bid/ask price of the stock as of the record date. American Stock Transfer & Trust Co., Intermagnetics' transfer agent, is overseeing the distribution. Intermagnetics (http://www.intermagnetics.com/) draws on the financial strength, operational excellence and technical leadership in the market of Magnetic Resonance Imaging (MRI), as well as its expanding businesses within Medical Devices that encompass Invivo Diagnostic Imaging (focusing on MRI components & imaging sub-systems) and Invivo Patient Care (focusing on monitoring & other patient care devices). Intermagnetics is also a prominent participant in superconducting applications for Energy Technology. The company has a 35-year history as a successful developer, manufacturer and marketer of superconducting materials, high-field magnets, medical systems & components and other specialized high-value added devices. Safe Harbor Statement: The statements contained in this press release that are not historical fact are "forward-looking statements" which involve various important assumptions, risks, uncertainties and other factors. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain and are subject to risks, including but not limited to risks and uncertainties set forth in the company's Annual Report on Forms 10-K and 10-Q. Except for the company's continuing obligation to disclose material information under federal securities law, the company is not obligated to update its forward-looking statements even though situations may change in the future. The company qualifies all of its forward-looking statements by these cautionary statements. First Call Analyst: FCMN Contact: cyudzevich@igc.com DATASOURCE: Intermagnetics General Corporation CONTACT: Michael Burke, Exec. VP & CFO, or Cathy Yudzevich, IR Manager, both of Intermagnetics General Corporation, +1-518-782-1122 Web site: http://www.intermagnetics.com/

Copyright