Spectrum Signal Processing to Buyback up to 460,000
Shares
BURNABY, B.C., May 2 /PRNewswire/ -- Spectrum Signal Processing (Nasdaq-NNM:SSPIF)
announced today that the Company will pursue a normal course issuer bid to buyback up to
460,000 shares of its own stock (4.97% of 9.248 million shares outstanding on April 30, 1997) in
the open- market.
``The company had $6.3 million in cash as of March 31, 1997, an increase of $5.6 million in the
past twelve months, which allows us to repurchase our stock without impacting our ability to
finance ongoing business,'' states Barry Jinks, Spectrum president & CEO. ``We are convinced
that a buyback of our stock at current market levels is a sound investment of a portion of cash
reserves,'' adds Jinks.
Spectrum Signal Processing is the leading North American supplier of DSP system solutions. The
company offers DSP software, off-the-shelf hardware, custom ASIC design, and complete
custom systems. Customers such as Nortel, NEC, IBM, the US Dept. of Defense, and Lockheed
Martin benefit from Spectrum's innovative programmable DSP products by gaining competitive
advantages such as faster time to market and low-cost feature set upgradeability. Spectrum Signal
Processing is publicly traded on NASDAQ NMS under the symbol SSPIF and on the TSE under
the symbol SSY. The company is IS09001 qualcertified and can be found on the web at
www.spectrumsignal.com and is located at No. 100 - 8525 Baxter Place, Burnaby, B.C.,
Canada, (604) 421-5422, fax (604) 421-1764.
Spectrum is ISO 9001 Quality Assurance Certified
Visit Spectrum on the Internet at spectrumsignal.com
SOURCE: Spectrum Signal Processing, Inc.
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