SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities exchange Act of 1934
Date of report (Date of earliest event reported): May 22, 1995
THE STROBER ORGANIZATION, INC.
(Exact Name of Registrant)
Delaware 0-15339 11-2822910
- ---------------------------- ------- ----------
(State or other jurisdiction Commission IRS Employer
of incorporation) File Number Identification No.
550 Hamilton Avenue, Brooklyn, New York 11232
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (718) 832-1212
________________________________N/A_________________________________________
(Former name or former address, if changed since last report.)
<PAGE>
Item 5. Other Events. On May 22, 1995, the Registrant issued a
Press Release, the text of which is attached hereto as
Exhibit 10(a)(b).
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit Page Where
Number Description Located
10(a)(a) Press Release dated May 10, -
1995 announcing First Quarter
1995 Results incorporated by
reference to Form 8-K Current
Report filed on May 10, 1995
10(a)(b) Press Release dated May 22, 5
1995, announcing Stock Repurchase
Program
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned thereto duly authorized.
THE STROBER ORGANIZATION, INC.
By:/s/ David Polishook
-------------------------------
DAVID POLISHOOK, Chief Financial
Officer
<PAGE>
THE STROBER ORGANIZATION, INC.
EXHIBIT INDEX
TO
FORM 8-K CURRENT REPORT
Exhibit Page Where
Number Description Located
10(a)(a) Press Release dated May 10, -
1995 announcing First Quarter
1995 Results incorporated by
reference to Form 8-K Current
Report filed on May 10, 1995
10(a)(b) Press Release dated May 22, 5
1995, announcing Stock Repurchase
Program
<PAGE>
FOR IMMEDIATE RELEASE
FOR: THE STROBER ORGANIZATION, INC.
550 Hamilton Avenue, Brooklyn, New York 11232
FROM: David Polishook, Chief Financial Officer
Tel: (718) 832-1212
STROBER ANNOUNCES 250,000 SHARES
COMMON STOCK REPURCHASE
PROGRAM
Brooklyn, New York, May 22, 1995 -- The Strober Organization,
Inc.(NASDAQ:STRB) The Strober Organization, Inc. announced that its
Board of Directors has authorized the purchase of up to 250,000 shares
of its Common Stock subject to market conditions in the open market or
in privately negotiated transactions, primarily from the Company's
excess cash flow. Strober has 5,055,493 shares outstanding with a
book value of $6.12 per share which has been trading recently in the
$3.50 range despite improved earnings of $.50 per share for 1994 up
from $.33 per share in 1993. For the first quarter of 1995, the
Company earned 5 cents per share as compared to a loss of 12 cents per
share for the first quarter of 1994.
Chairman Robert J. Gaites, said "We believe that the market does
not fully appreciate the value of the Company and how effective our
yards and employees are in the market place. As our stock is
undervalued, a stock repurchase program is an excellent means of
improving our value to our stockholders. We expect to fund this
repurchase program largely from cash flow and have no borrowings
outstanding against our $10 million revolving credit line, all of
which remains available to us. We will maintain our strong equity
base to support expansion of our strong regional network of building
supply centers and remain committed to exploring all means for
enhancing stockholder value for our remaining shareholders."
David Polishook, Chief Financial Officer said "We believe our
strong cash flow and earnings performance in 1994 and the first
quarter 1995 set a strong foundation to permit the Company to invest
significantly in expansion during the remainder of 1995 while
maintaining an excellent debt to tangible net worth ratio currently at
.52 to 1."
Strober is a NASDAQ National Market listed supplier of building
products and supplies operating from a network of 10 building supply
centers in the New York, New Jersey, Connecticut and Pennsylvania
area.
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