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Posted: October 22, 2007

Headwaters Announces Stock Repurchase, Goodwill Impairment Charge

(Nanowerk News) Headwaters Incorporated (NYSE: HW) said that its board of directors has authorized the purchase of up to $15 million of the company's common stock.
Other companies in the sector include Veeco Instruments (NASDAQ: VECO), Ultratech Inc. (NASDAQ: UTEK), and Harris & Harris Group (NASDAQ: TINY).
Under terms of the buyback the company reserved the right to repurchase common shares at its own discretion based on conditions including stock price. Headwaters also said that it will record a $98 million non-cash impairment charge that will be recorded for writing down the goodwill of construction materials unit Tapco.
The charge will be recorded in the company's 2007 financial results.
Headwaters Inc. is a component of the International Security Exchange-Cronus Capital Market (ISE-CCM) Nanotechnology Index. Complete information is available from the ISE-CCM page at http://www.ccmopportunitybase.com.
Source: Headwaters