Summa (NASDAQ:SUMX)
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Summa Industries Announces New Stock Repurchase Plan
TORRANCE, Calif., Oct. 21 /PRNewswire-FirstCall/ -- Summa Industries
(NASDAQ:SUMX) announces that its Board of Directors has approved a new plan to
repurchase up to $2 million of its common stock (the "2005 Buy Back") with no
time limit.
The Company has completed several stock buy-back programs in recent years,
pursuant to which shares have been purchased in the open market and in private
transactions. Common stock repurchases totaled $450,000 in fiscal 2002,
$2,038,000 in fiscal 2003 and $3,668,000 in fiscal 2004.
Summa Industries manufactures proprietary plastic components for industrial and
commercial markets.
Statements in this news release which relate to future plans, financial results
or projections, events or performance are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and fall under the safe
harbor. These forward-looking statements include, but are not limited to,
statements regarding the future buy-back of the Company's shares of common
stock. Actual results could differ materially from those anticipated in the
forward-looking statements as a result of a number of factors, including but
not limited to, the inability of the Company to make such repurchases or the
subsequent decision not to complete the 2005 Buy Back on a timely basis, and
other risks and uncertainties described in detail under "Risk Factors" in
Summa's Annual Report on Form 10-K for the fiscal year ended August 31, 2003.
For further information, contact James R. Swartwout, (310) 792-7024; Fax (310)
792-7079; ; http://www.summaindustries.com/.
DATASOURCE: Summa Industries
CONTACT: James R. Swartwout of Summa Industries, +1-310-792-7024,
fax +1-310-792-7079,
Web site: http://www.summaindustries.com/