LINCOLN, R.I — The board of directors for pen maker A.T. Cross has authorized the repurchase of up to 10 percent of the company’s outstanding Class A common stock.
The company said it plans to purchase some 1.5 million shares of stock on the open market, subject to regulatory considerations, from time to time depending on market conditions. Any repurchased shares will be held as treasury stock and will be available for general corporate purposes such as employee benefit plans, strategic acquisitions, or joint venture partners, the company said.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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Yesterday (Thursday), A.T. Cross released its quarterly financial results, showing a profit of $1.6 million, or 9 cents per share, for the first quarter. During the year-ago period, the company lost $8.3 million, or 50 cents per share.
Shares of A.T. Cross closed up 37 cents, at $7.20, on Thursday.
