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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): August 17, 1998
BIOSOURCE INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware 000-21930 77-0340829
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
820 Flynn Road Camarillo, California 93012
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (805)987-0086
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ITEM 5. OTHER EVENTS
Reference is made to the press releases of Registrant, issued on August 17, 1998
which contains information meeting the requirements of this Item 5, and which
are incorporated herein by this reference. Copies of the press releases are
attached to this Form 8-K as Exhibit "A".
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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 hereunto duly authorized.
August 24, 1998 BIOSOURCE INTERNATIONAL, INC.
By: /s/ James H. Chamberlain
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James H. Chamberlain, President,
and Chief Executive Officer
By: /s/ Larry A. May
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Larry A. May, Vice President,
and Chief Financial Officer
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EXHIBIT 99
[LETTERHEAD OF BIOSOURCE INTERNATIONAL]
"Exhibit A"
COMPANY CONTACTS: Larry A. May, Chief Financial Officer
Aspasia Alexander, Investor Relations
805/987-0086
PRESS CONTACT: FS Communications
Matthew Schmidt
650/691-1488
BIOSOURCE INTERNATIONAL CONTINUES STOCK BUYBACK PROGRAM,
BOARD AUTHORIZES PURCHASE OF ADDITIONAL 250,000 SHARES
Camarillo, Calif.--August 17, 1998--BioSource International, Inc. (Nasdaq:
BIOI) today announced that the Board of Directors has authorized the purchase of
up to an additional 250,000 shares of the Company's common stock during the
12-month period August 17, 1998 to August 18, 1999.
The authorization, approved by the Company's Board on August 14, 1998,
continues the share buyback program begun on April 22, 1997, and extended on
December 22, 1997. The Company has purchased all of the 1.2 million shares of
stock authorized by the Board since the start of the program, at an average
share price of $6.44. In light of the recent price range of the Company's
stock, the Board determined to continue purchasing shares, which it considers to
be an excellent investment.
"From our perspective, there is no rational explanation for the current
trading level of the Company's stock," said James H. Chamberlain, chairman,
president and chief executive officer of BioSource International, Inc. "We
believe this represents an excellent buying opportunity and we are acting on it
to express our confidence and improve overall shareholder value."
BioSource International, Inc. is a Camarillo, Calif., based supplier of
immunological reagents and test kits used in biomedical research. The Company
offers more than 1,700 products, including recombinant proteins, monoclonal
antibodies and ELISA assay kits to a variety of antigens, and custom DNA
segments (oligonucleotides). For the year ended December 31, 1997, the Company
reported net income of $3,186,363 on revenue of $20,571,835.
This news release may contain forward looking statements that involve risks
and uncertainties, included risks described from time to time in reports filed
by BioSource International with the Securities and Exchange Commission,
including its most recently filed Annual Report on Form 10-K.
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