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Tuesday, February 2, 1999 < Prev Next >

Visio Directors OK Buyback As Stock Hits 12-Month Low

SEATTLE - Visio, the producer of diagramming and drawing software, said its board of directors has authorized the repurchase of up to 2 million shares of its stock over the next two years.

The announcement came after Visio's share price fell to a 12-month low of $24.75 yesterday. It has dropped more than $13 in the past two weeks since a Merrill Lynch analyst downgraded the stock.

Visio posted a $10 million profit, or 32 cents a share, for the quarter ended Dec. 31, along with its 15th quarter of consecutive sales growth.

The Seattle Times

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