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8-K - Measurement Specialties Inc | v210849_8-k.htm |
Contact:
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Mark
Thomson, CFO
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(757) 766-4224
FOR IMMEDIATE
RELEASE
Measurement
Specialties Announces Plan to Repurchase $7.5 Million of Shares of Company
Stock
Hampton,
VA, February 10, 2011 – Measurement Specialties, Inc. (NASDAQ: MEAS) (the
“Company”), a global designer and manufacturer of sensors and sensor-based
systems, announced today that the Company’s Board of Directors has adopted a
program to repurchase from time to time at management’s discretion up
to $7,500,000 of the shares of the Company’s common stock in the
open market or in private transactions at prevailing market prices. As of
January 27, 2011, the Company had 14,955,961 shares of common stock
outstanding. Repurchases will be made under the program using the
Company’s own cash resources. Needham & Company, Inc. will act as
agent for the Company’s stock repurchase program.
About Measurement
Specialties: Measurement Specialties, Inc. (MEAS) designs and
manufactures sensors and sensor-based systems to measure precise ranges of
physical characteristics such as pressure, temperature, position, force,
vibration, humidity and photo optics. MEAS uses multiple advanced
technologies – piezo-resistive silicon sensors, application-specific integrated
circuits, micro-electromechanical systems (“MEMS”), piezoelectric polymers, foil
strain gauges, force balance systems, fluid capacitive devices, linear and
rotational variable differential transformers, electromagnetic displacement
sensors, hygroscopic capacitive sensors, ultrasonic sensors, optical sensors,
negative thermal coefficient (“NTC”) ceramic sensors, mechanical resonators and
submersible hydrostatic level sensors – to engineer sensors that operate
precisely and cost effectively.
Company
Contact: Mark Thomson, CFO, (757) 766-4224
*****End
of Press Release*****
Measurement
Specialties
Inc. • 1000 Lucas
Way • Hampton,
VA 23666 • www.meas-spec.com