Navigation Links
Kensey Nash Announces 600,000 Share Stock Repurchase Program
Date:3/18/2009

EXTON, Pa., March 18 /PRNewswire-FirstCall/ -- Kensey Nash Corporation (Nasdaq: KNSY) today announced that its board of directors has approved a stock repurchase. The new program allows the Company to repurchase up to a total of 600,000 of its issued and outstanding shares of Common Stock and has no scheduled expiration. The Company intends to finance the repurchases using its available cash.

"Given our strong cash position and the recent trading price of our stock, we believe we will be able to implement this repurchase program while maintaining the required financial flexibility and strength to continue to grow our business," commented Mr. Joseph W. Kaufmann, President and CEO of Kensey Nash Corporation. "The authorization of this new stock repurchase program reflects the confidence that the board and management have in the Company's business opportunities, as well as our commitment to long-term shareholder value."

Kensey Nash Corporation plans to repurchase its shares for cash, from time to time in the open market, through block trades or otherwise. The repurchase program does not require the Company to purchase any specific dollar value or number of shares. Any purchases under the program will depend on market conditions and may be commenced or suspended at any time or from time to time without prior notice. As of February 28, 2009, the Company had approximately 11,513,952 shares of Common Stock outstanding.

About Kensey Nash Corporation. Kensey Nash Corporation is a leading medical technology company providing innovative solutions and technologies for a wide range of medical procedures. The Company provides an extensive range of products into multiple medical markets, primarily sports medicine, spine, and endovascular markets. Many of the products are based on the Company's significant expertise in the design, development, manufacturing and processing of absorbable biomaterials, which has led to partnerships to commercialize technologies. The Company is known as a pioneer in the field of arterial puncture closure, as the inventor and developer of the Angio-Seal(TM) Vascular Closure Device, which is licensed to St. Jude Medical, Inc.

Cautionary Note for Forward-Looking Statements. This press release contains forward-looking statements that reflect the Company's current expectations about its prospects and opportunities, including the financial forecasts for the third quarter of fiscal 2009 and the full year fiscal 2009. The Company has tried to identify these forward looking statements by using words such as "expect," "anticipate," "estimate," "plan," "will," "would," "forecast," "believe," "guidance," "projection" or similar expressions, but these words are not the exclusive means for identifying such statements. The Company cautions that a number of risks, uncertainties and other important factors could cause the Company's actual results to differ materially from those in the forward-looking statements including, without limitation, current economic conditions, foreign currency fluctuations, risks associated with the Company's continued research and development efforts with respect to the endovascular products (including the risk that those efforts will not be successful and that some of the associated milestone payments will not be received) and Spectranetics' success in selling the ThromCat and SafeCross products, as well as the Company's success in distributing its products into the marketplace, the Company's dependence on four major customers (St. Jude Medical, Arthrex, Orthovita and Spectranetics) and their success in selling Kensey Nash related products in the marketplace, the impact of product recalls and other manufacturing issues, and competition from other technologies. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's SEC filings, including the disclosure under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.


'/>"/>
SOURCE Kensey Nash Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Kensey Nash to Participate in the Sidoti Thirteenth Annual New York Emerging Growth Institutional Investor Forum Conference
2. Kensey Nash Announces Appointment of Chief Financial Officer
3. Kensey Nash to Present at the Canaccord Adams Musculoskeletal Conference
4. Kensey Nash Announces Director Resignation
5. Kensey Nash Corporation Announces Its Second Quarter 2009 Earnings Release Date and Teleconference
6. Kensey Nash to Participate in the RBC Capital Markets Healthcare Conference
7. Kensey Nash Corporation Announces its Fourth Quarter and Fiscal Year End 2008 Earnings Release Date and Teleconference
8. Kensey Nash Provides 4th Quarter Fiscal 2008 and Fiscal Year 2009 Guidance
9. Kensey Nash Announces the Closing on its Sale of the Endovascular Business to Spectranetics
10. Kensey Nash to Participate in the Friedman Billings Ramsey 12th Annual Spring Investor Conference
11. Corrected Press Release: Kensey Nash to Present at the Bank of America 2008 Health Care Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/27/2017)... ... May 27, 2017 , ... In any business, follow up ... talent of your dental team at presenting treatment, there will always be some patients ... of time and money on best practices when it comes to presenting treatment. ...
(Date:5/26/2017)... , ... May 26, 2017 , ... ... at Boston CEO 2017 on May 30th and 31st at The Four Seasons ... for leading executives in the life sciences, offering exclusive access to key decision ...
(Date:5/26/2017)... ... May 26, 2017 , ... ... foods, is sharing bold recipes for Memorial Day entertaining that are sure to ... , “Boar’s Head fresh sliced meats and cheeses featured in these refreshingly balanced ...
(Date:5/26/2017)... ... ... Silver Birch of Hammond, a new assisted lifestyle community, has welcomed its ... land at 5620 Sohl Avenue in Hammond, serves older adults who need some help ... one-bedroom apartments. Each of the private apartments at Silver Birch features a kitchenette, spacious ...
(Date:5/26/2017)... ... May 26, 2017 , ... Centennial-based BluSky Restoration ... from its 14th Annual Clays for Kids fundraiser, to be held Friday, Sept. ... , As part of BluSky’s partnership with The Adoption Exchange, BluSky will ...
Breaking Medicine News(10 mins):
(Date:5/4/2017)... BOTHELL, Wash. , May 4, 2017   ... a leading developer, manufacturer and marketer of proprietary clinical ... media ("BioLife" or the "Company"), today announced that ... released after market close on Thursday, May 11, 2017, ... and live webcast at 1:30 p.m. PT that afternoon. ...
(Date:5/3/2017)... Md. , May 3, 2017  Kalorama ... growth of nine percent next year and this ... organ and hematopoietic stem cell (HSCT) or bone ... donor. Molecular testing technologies are well-suited for this task. ... market research publisher Kalorama Information. The various PCR-based ...
(Date:5/3/2017)... EXTON, Pa. , May 3, 2017 /PRNewswire/ ... leader in innovative solutions for injectable drug administration, ... President Scientific Affairs and Technical Services, and ... several workshops and offering presentations focused on West,s ... of injectable products, as well as providing commentary ...
Breaking Medicine Technology: