SED International Holdings, Inc. Commences Stock Repurchase Program
Apr 11, 2001, 01:00 ET from SED International Holdings, Inc.
ATLANTA, April 11 /PRNewswire/ -- SED International Holdings, Inc. (Nasdaq: SECX), today announced that the Company will initiate purchases of its common stock under a repurchase program that was previously authorized by the Company's Board of Directors. Under the previously approved repurchase program the Company is authorized to purchase up to 2,000,000 shares of the Company's common stock through open market and private purchases. The timing of the purchases, and the exact number of shares to be purchased, will be dependent upon market conditions. Commenting on the announcement, Gerald Diamond, Chairman and Chief Executive Officer, said, "The repurchase program is a good use of the Company's cash at this time, because the Company's stock is trading at attractive price levels." SED International, Inc., celebrating twenty proud years in business, is an international distributor and value-added services provider of computer and wireless technology throughout the United States, the Caribbean, and Latin America. The Company has relationships with more than 30,000 value-added resellers, system builders, e-commerce resellers, dealer-agents, and retailers. SED International serves its customers with more than 5,000 products, fulfillment services, finance options, and e-commerce solutions. The Company operates sales and distribution facilities in the U.S., Brazil, Argentina, Colombia, and Puerto Rico. Because the Company has expertise in the computer and wireless industry, SED International is uniquely positioned to leverage the convergence of these technologies. More information about SED International, Inc. can be found at www.sedonline.com. Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties. The Company cautions that various factors, including the factors described under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained in the Company's Registration Statement on Form S-3 (SEC File No. 333-35069) that could cause actual results to differ materially include the following: business conditions and growth in the personal computer, wireless industry, and general economy; competitive factors including compressed gross profit margins; inventory risks due to shifts in market demand; product availability; changes in product mix; reliance of key vendors or customers; labor strikes; fluctuations in foreign currency exchange rates; income tax legislation; and the risk factors listed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement. For further information, please contact investors, Michael Mason, 212-691-8087, michaelm@allencaron.com, or media, Kari Rinkeviczie, 616-647-0780, kari@allencaron.com, both of Allen & Caron Inc, for SED International Holdings, Inc.; or Mark Diamond, President & COO of SED International Holdings, Inc., 770-491-8962, mdiamond@sedintl.com.
SOURCE SED International Holdings, Inc.
ATLANTA, April 11 /PRNewswire/ -- SED International Holdings, Inc. (Nasdaq: SECX), today announced that the Company will initiate purchases of its common stock under a repurchase program that was previously authorized by the Company's Board of Directors. Under the previously approved repurchase program the Company is authorized to purchase up to 2,000,000 shares of the Company's common stock through open market and private purchases. The timing of the purchases, and the exact number of shares to be purchased, will be dependent upon market conditions. Commenting on the announcement, Gerald Diamond, Chairman and Chief Executive Officer, said, "The repurchase program is a good use of the Company's cash at this time, because the Company's stock is trading at attractive price levels." SED International, Inc., celebrating twenty proud years in business, is an international distributor and value-added services provider of computer and wireless technology throughout the United States, the Caribbean, and Latin America. The Company has relationships with more than 30,000 value-added resellers, system builders, e-commerce resellers, dealer-agents, and retailers. SED International serves its customers with more than 5,000 products, fulfillment services, finance options, and e-commerce solutions. The Company operates sales and distribution facilities in the U.S., Brazil, Argentina, Colombia, and Puerto Rico. Because the Company has expertise in the computer and wireless industry, SED International is uniquely positioned to leverage the convergence of these technologies. More information about SED International, Inc. can be found at www.sedonline.com. Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties. The Company cautions that various factors, including the factors described under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained in the Company's Registration Statement on Form S-3 (SEC File No. 333-35069) that could cause actual results to differ materially include the following: business conditions and growth in the personal computer, wireless industry, and general economy; competitive factors including compressed gross profit margins; inventory risks due to shifts in market demand; product availability; changes in product mix; reliance of key vendors or customers; labor strikes; fluctuations in foreign currency exchange rates; income tax legislation; and the risk factors listed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement. For further information, please contact investors, Michael Mason, 212-691-8087, michaelm@allencaron.com, or media, Kari Rinkeviczie, 616-647-0780, kari@allencaron.com, both of Allen & Caron Inc, for SED International Holdings, Inc.; or Mark Diamond, President & COO of SED International Holdings, Inc., 770-491-8962, mdiamond@sedintl.com. SOURCE SED International Holdings, Inc.
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