RE: Nobody asked me, but--CORRECTION
posted on
Aug 23, 2006 11:31PM
PTSC did not say it would use 10% of revenue for share buyback. The announcement said AT LEAST 10%. It could have used 10%, 50%, or 95% of its cash. In that case, for the last two months the company may have been purchasing shares each day in much larger quantities than we anticipate.
To me, if you announce a share buyback with this sort of language and barely exercise it, the strategic impact will be negative. ``You have how many millions in the bank and spent virtually nothing? Then why announce the plan in the first place?``
But, I know absolutely nothing is certain except death and something else . . .
Peace
tps