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2004-12-01 12:11:03 Sport Supply Group Inc.'s Board Authorizes Stock Repurchase Program
Business Editors / Sports Editors
DALLAS--(BUSINESS WIRE)--Dec. 1, 2004-- Sport Supply Group, Inc. (OTCBB:SSPY), a leading manufacturer and distributor of sporting goods and physical education products, announced today that its Board of Directors has authorized the repurchase of up to $3,000,000 of the Company's outstanding common stock. The repurchases will be made from time to time in open market transactions and privately negotiated transactions in such amounts as determined in the discretion of the Company's management and will be funded out of the Company's working capital. The number of shares repurchased will depend upon the availability of shares at acceptable market prices. Geoffrey P. Jurick, the Company's Chairman and Chief Executive Officer said, "Our Board of Directors believes that the market price for the Company's shares does not reflect their true value and that the repurchase program will benefit the Company and all of its shareholders." Sport Supply Group is a leading direct marketer and B2B e-commerce supplier of sporting goods and physical education equipment to the institutional and youth sports market place. Athletes, coaches and instructors in schools, colleges, universities, governmental agencies, camps and youth organizations across the country use our products. Emerson Radio Corp. (AMEX:MSN) owns approximately 53% of Sport Supply Group's issued and outstanding common stock. For more information about Sport Supply Group and for complete financial statements, please visit www.sportsupplygroup.com. This press release other than the historical information, consists of "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995) which are identified by the use of words such as "believes", "expects", "projects", and similar expressions. While these statements reflect the Company's current beliefs and are based on assumptions that the Company believes are reasonable, they are subject to uncertainties and risks that could cause actual results to differ materially from anticipated results.
KEYWORD: NORTH AMERICA TEXAS UNITED STATES INDUSTRY KEYWORD: TECHNOLOGY INTERNET MANUFACTURING SPORTS SOURCE: Sport Supply Group, Inc.
CONTACT INFORMATION: Sport Supply Group, Inc. Terry Babilla or Bob Mitchell, 972-484-9484
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Did anyone actually get in on this? It wouldnt come up on my Scottrader ; not that that would have mattered really, being a pinkie, I would have had to call it in anyway w/ Scottrade.
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quote:Originally posted by Phoenixx: Did anyone actually get in on this? It wouldnt come up on my Scottrader ; not that that would have mattered really, being a pinkie, I would have had to call it in anyway w/ Scottrade.
I considered it but right now I have no dry powder...
Posts: 75 | From: Johnson City, TN | Registered: Feb 2004
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