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Stock Market & Financial Investment News

News Breaks
April 2, 2014
08:16 EDTSPASparton, USSI JV awarded $13.3M in direct foreign sales contract
Sparton Corporation and USSI, a subsidiary of Ultra Electronics Holdings plc announce the award of subcontracts valued at $13.3M from their ERAPSCO/Sonobuoy TechSystems joint venture. The contract is for the manufacture of Passive and Active Sonobuoys in support of multiple international awards for exercises planned with the U.S. Navy as well as independent training and exercises as sanctioned under export regulations. ERAPSCO/Sonobuoy TechSystems will provide manufacturing subcontracts in the amount of $5.6M to Sparton Electronics Florida, Inc. and $7.7M to USSI. Production will take place at Sparton’s De Leon Springs, FL facility and USSI’s Columbia City, IN facility with completion planned by June.
News For SPA From The Last 14 Days
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October 28, 2014
08:15 EDTSPASparton announces $5M stock buyback plan
Sparton Corporation announced that its Board of Directors unanimously approved on October 22 the repurchase of up to $5M of its common stock. The stock buyback plan reaffirms our confidence in the long-term growth of the Company,“ stated Cary B. Wood, president and CEO. “It is facilitated by our strong capital structure and liquidity and will not only represent a good investment for our Company, but it also demonstrates our commitment to increase shareholder value.”

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