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Perma-Pipe International Holdings, Inc. Announces $3.0 Million Share Repurchase Program
NILES, Ill.--(BUSINESS WIRE)-- Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) (the "Company") announced today that its board of directors has
About this update from Perma-pipe International Holdings, Inc.
[{"type":"text","content":" NILES, Ill.--(BUSINESS WIRE)--\nPerma-Pipe International Holdings, Inc. (NASDAQ: PPIH) (the \"Company\") announced today that its board of directors has authorized a $3.0 million share repurchase program. Share repurchases may be executed through open market or in privately negotiated transactions over the course of the next 12 months.\n\nThe specific number of shares that the Company will ultimately repurchase, and the actual timing, per share price and amount of share repurchases, will be dependent on then current market conditions and other factors.\n\nPerma-Pipe International Holdings, Inc.\n\nThe Company is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, the Company has operations at thirteen locations in six countries.\n\nForward-Looking Statements\n\nCertain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus (\"COVID-19\") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global econo...