Calabasas Firm May Buy 150,000 Shares of Its Stock
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National Technical Systems said it may buy back up to 150,000 shares of its stock. The company now has 5.8 million shares outstanding.
NTS, a Calabasas engineering services company, said the shares may be repurchased because company officials believe the stock is worth more than the price it has been trading at recently. On Monday, the stock closed at $1.625 a share.
For the six months that ended July 31, National Technical Systems earned $634,000, or 11 cents a share, on sales of $16.1 million.
