Video Display Corporation
Announces Continuation of Stock Repurchase Program
Wednesday
ATLANTA--(BUSINESS
WIRE)--Jan. 11, 2006--Video Display Corporation (the "Company,
"Video"), (NASDAQ: VIDE
- News), a developer of
unique solutions for military, medical and industrial displays and other
information technology products, today announced that its Board of Directors
has approved a continuation of its stock repurchase program. Under the plan as
continued, the Company may repurchase up to 600,000 additional shares of the
Company's common stock over the next twenty four months in either open market
or private transactions at prices advantageous to the Company. The exact timing
and amount of purchases will depend on market prices. The Company has 126,132
shares remaining under its previously authorized repurchase program.
Purchases under the program
will depend, among other factors, on the prevailing stock price, market
conditions, and alternative investment opportunities. There is no minimum or
maximum number of shares to be repurchased under the program. The repurchased
shares will be held in treasury and used for issuance under the Company's
corporate development and acquisition plans.
Mr. Ron Ordway, Chief
Executive Officer, commented: "The stock repurchase program is designed to
enhance shareholder value and will also offset share issuances under the
Company's acquisition plans. The Board's decision reflects the Company's desire
to prevent dilution to the current shareholders in issuance of common share
equity in any future acquisition opportunities whenever possible. The new
repurchase program is intended to optimize the Company's use of capital
relative to other financing alternatives and to benefit both the Company and
the shareholders by enhancing earnings per share and return on equity."
Video Display Corporation
designs, develops and manufactures unique solutions for display requirements
for military, medical and industrial use with emphasis on high end training and
simulation applications. Its product offerings include ruggedized
Contact:
Video Display Corporation