WEST WARWICK, R.I. (BUSINESS WIRE) — Astro-Med, Inc., a manufacturer of high-tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments said yesterday that on November 22, 2000 it purchased 211,600 shares of its common stock at $4 per share, the closing price on that day, from an institutional investor.
The shares purchased represent about 5 percent of the outstanding shares.
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According to the company’s CEO, Albert W. Ondis, Astro-Med purchased the shares, which were priced at little more than 50 percent of their book value, to increase the earnings per share value for its shareholders.
Astro-Med’s stock was up 1/8 at market close on Monday, at 4 1/8. For more information about Astro-Med, visit www.astromed.com.
