Catalyst Semiconductor Announces Stock Repurchase Program
SUNNYVALE, Calif.--(BUSINESS WIRE)--Sept. 27, 2001--Catalyst Semiconductor, Inc. (Nasdaq:CATS) announced today that its Board of Directors has authorized the repurchase of up to 1.5 million shares of the company's common stock. The Company currently has approximately 17.8 million shares outstanding.
Depending on market conditions, availability and other factors, repurchases may be made from time to time, at management's discretion, in the open market and in negotiated transactions, including block transactions, with purchases undertaken or suspended without prior notice to protect the interests of all Catalyst shareholders.
Radu Vanco, the Company's Chief Executive Officer, stated, "The Board's decision to begin this program was made in view of the prices at which the company's common stock has recently traded, which we believe do not reflect the true long-term value of the company to shareholders."
About Catalyst Semiconductor
Founded in 1985, Catalyst Semiconductor, Inc. is headquartered in Sunnyvale, California. The Company designs and markets a broad range of programmable products including Flash Memories, Serial and Parallel EEPROMs, NVRAM, Digital Potentiometers, Microcontroller Supervisory circuits and other programmable Mixed Signal products. Catalyst products are used in telecommunications, networking systems, computation, industrial and consumer markets, driven by the Internet revolution. Typical applications include modems, network cards, PC BIOS, DIMM modules, cellular telephones, digital satellite box receivers, set-top boxes and Internet routers. Catalyst's Quality Management System is ISO 9001 certified. For additional information about Catalyst Semiconductor, visit our web site at www.catsemi.com
Safe Harbor Statement
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, including statements regarding Catalyst Semiconductor's stock repurchase program. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected. Further risks are detailed in Digital Impact's filings with the Securities and Exchange Commission, including its most recent Quarterly Report on Form 10-Q and its Annual Report on Form 10-K for the fiscal year ended April 29, 2001.
CONTACT: Catalyst Semiconductor
Joan Vargas, 408/542-1051 or 408/542-1405 (Facsimile)
joan.vargas@catsemi.com |
