Aurora Extends Offer

Aurora Electronics Inc. said it is extending its stock buyback offer through the end of this week, and that earlier revenue projections the company made have been scaled back to reflect softer prices for memory chips.

Aurora, which sells spare and recycled parts to computer manufacturers, said it has extended through Friday its offer to buy up to 6.5 million shares of its common stock from shareholders for a net price of $2.875 apiece. The offer was originally scheduled to expire March 22.

The company added that revenue projections included in the original offer now seem too optimistic in light of what the company called “continued deterioration in the market prices” of certain commodities, including memory chips.

As a result, the company said revenue projections made in the purchase offer for 1996 should be reduced by 10%.