BOLT TECHNOLOGY CORP. 
By
NORWALK, CT., November 22, 2011 - Bolt Technology Corporation
(NASDAQ Global Select Market: BOLT) today announced that its
Board of Directors has declared a special cash dividend in
the amount of $1.00 per share to be paid on December 20, 2011
to shareholders of record on December 6, 2011.
Commenting on the dividend, Raymond M. Soto, Chairman,
President and CEO, said, "The special dividend reflects the
Company's profitability during the last several years and
enforces our commitment to delivering shareholder value. The
Company has a strong balance sheet which included over $31
million in cash at September 30, 2011. The special dividend
payment of approximately $8.6 million should not impair our
ability to pursue our corporate strategies,
including the repurchase of our stock and future
acquisitions. In addition to declaring the special dividend,
the Board is also considering the institution of a regular
quarterly dividend based on, among other things, future
operating profitability."
Bolt Technology Corporation is a leading worldwide developer and manufacturer of marine seismic data acquisition equipment used for offshore oil and natural gas exploration. Bolt, through its SeaBotix Inc. subsidiary is also a developer and manufacturer of remotely-operated robotic vehicles systems used for a variety of underwater tasks.
Safe Harbor Statement
Forward-looking statements in this release are made pursuant
to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These include statements about
anticipated financial performance, future revenues and
earnings, business prospects, new products, anticipated
energy industry activity, anticipated market performance,
planned production and shipping of products, expected cash
needs and similar matters. Investors are cautioned that all
forward-looking statements involve risks and uncertainty,
including without limitation (i) the risk of technological
change relating to the Company's products and the risk of the
Company's inability to develop new competitive products in a
timely manner, (ii) the risk of changes in demand for the
Company's products due to fluctuations in energy industry
activity, (iii) the Company's reliance on certain significant
customers, (iv) risks associated with a significant amount of
foreign sales, (v) the risk of fluctuations in future
operating results, (vi) risks
associated with global economic conditions and (vii) other
risks detailed in the Company's filings with the Securities
and Exchange Commission. The Company believes that
forward-
looking statements made by it are based on reasonable
expectations. However, no assurances can be given that actual
results will not differ materially from those contained in
such forward- looking statements. The words "estimate,"
"project," "anticipate," "expect," "predict," "believe,"
"may," "could," "should" and similar expressions are intended
to identify forward-looking statements.
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| distribué par | Ce noodl a été diffusé par Bolt Technology Corporation et initialement mise en ligne sur le site http://www.bolt-technology.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2011-11-23 17:35:43 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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| Bolt Technology Announces Special Dividend |
