BioSource Extends Stock Buyback Program

BioSource International in Camarillo has extended the company’s common-stock repurchase program and authorized the purchase of up to 1 million shares by Dec. 23, 1998.

BioSource’s board of directors voted to extend the program’s duration and expand the number of shares that may be purchased. Because of the recent price range of the stock, the board decided to more aggressively buy shares.

The stock repurchase program initially was set for a 12-month period beginning April 22, and the purchase of up to 200,000 shares of common stock was authorized. As of Dec. 19, the company had purchased 200,000 shares at an average price of $6.37 a share.

BioSource supplies immunological reagents and test kits used in biomedical research. The company has more than 1,300 products.

For the year ended Dec. 31, 1996, BioSource reported earnings of $2.76 million, or 35 cents a share, on revenues of $15.91 million.