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Recommendations: 1
Well, this is so nice to be able to listen to the conference call. Management specifically was asked about the recent price drop, and indicated that they were surprised also that two quarters in a row this apparently happened for no reason just prior to the earnings announcement. They were asked why, since they have a share buyback program in place, they didn't buy back shares. They responded that the company, in addition to all officers and insiders, is subject to the company blackout period (where they can't buy or sell their own company stock) which begins 10 days prior to the end of the quarter and ends 3 days after the earnings announcement. If the price stays in what they determine to be a "low" range, perhaps next week they will buy back some of their own stock (although they didn't indicate this).
Deriving a lot of comfort from the call - basically business as usual - I added to my position today.
Lynn
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Announcements
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