Pacific Sands, Inc. Announces Share Buyback Program
(firmenpresse) - RACINE, WI -- (Marketwire) -- 10/21/11 -- Pacific Sands, Inc. (PINKSHEETS: PFSD) (OTCQB: PFSD) (), which manufactures environmentally friendly, non-toxic liquid and powder cleaning, laundry, and water treatment products, announced today its board of directors has approved a 4,000,000 share buyback program. Shares may be purchased in public or private transactions from time to time.
"Pacific Sands has had unprecedented revenue growth in the past two years, with sales up nearly 39% for the fiscal year ended June 30, 2011," said Michael Michie, CEO. "We have a robust pipeline of orders, and a strengthened working capital position. A dramatic reduction in debt and interest expense in fiscal 2011 contributed to the company's first profitable year since its inception.
"Management and board members believe that at times the stock price and trading activity has clearly not correlated to the company's true value. With a share buyback program in place, the company has an opportunity to use cash to build shareholder value with selective repurchases."
Pacific Sands, Inc. () is a rapidly growing company that develops, markets and sells unique non-toxic, earth-, health- and child-friendly products for cleaning, personal hygiene, and water maintenance applications. The company's ecoone® Spa Treatment system was named a "Top 50 product for 2008" by Pool and Spa News. Wal-Mart's Innovation Network awarded one of the company's products the highest "Success Likelihood Score" ever granted in the program's 22-year history.
The statements contained in this release and statements that the company may make orally in connection with this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward-looking statements, since these forward-looking statements involve risks and uncertainties that could significantly and adversely impact the company's business. Therefore, actual outcomes and results may differ materially from those made in forward-looking statements.
Contact:
Michael Michie
President
262-619-3261
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Datum: 21.10.2011 - 12:55 Uhr
Sprache: Deutsch
News-ID 1048659
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RACINE, WI
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Commodity Chemicals
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