Integral Systems Launches Tender Offer
Integral Systems, a satellite systems provider, has begun a tender offer to purchase shares of its common stock, the company announced August 14. Integral is offering to purchase up to 1,850,000 shares of its common stock at a price of $27.00 per share for a maximum aggregate purchase price of $49,950,000. The tender offer is currently scheduled to expire at 12:00 midnight, New York City time, on Tuesday, September 11, 2007, unless extended.
The company announced its results last week, which saw strong increases in revenues and profits. Integral had revenues for the quarter of $35.9 million, up $8.5 million compared to the same quarter last year. It had profits of $5.3 million in the quarter compared to $3.9 million a year earlier.