Topic : Dense-Pac Microsystems (DPAC)
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Wednesday December 6, 2000 07:01 AM
Company Press Release
Dense-Pac Microsystems'' Board of Directors Approves Stock Repurchase Program; Company to Repurchase Up to 500,000 Shares of Common Stock
GARDEN GROVE, Calif.--(BUSINESS WIRE)--Dec. 6, 2000--Dense-Pac Microsystems, Inc. (Nasdaq:DPAC), a leading edge solution provider of high-density design and manufacturing for the integration of communications electronics, today announced that its Board of Directors has authorized the repurchase of up to 500,000 shares, or two and one half percent, of the Company's outstanding common stock. Under the stock repurchase program Dense-Pac may purchase shares from time to time over the next 12 months at prevailing prices in the open market, subject to market conditions.
"The decision by our directors to implement this program underscores our belief that Dense-Pac's shares are currently trading at an attractive value," stated Ted Bruce, Dense-Pac's president and CEO. "Our patent protected packaging solutions, which have been the impetus for our year-over-year revenue and earnings growth, continue to provide the basis for new and innovative products. We consider the repurchase of our stock in the best interest of shareholder value."
About Dense-Pac Microsystems, Inc.
DPAC is a technology company that provides high density electronic design and manufacturing solutions using its proprietary, patented, three-dimensional packaging. High-density design and manufacturing allows customers to meet their electronic system performance and time-to-market objectives for maximum system integration. DPAC's products are used in applications such as network servers, computers storage devices, medical instrumentation and communication electronics. The Company's web site is at www.dense-pac.com.
This press release includes forward-looking statements, including statements regarding the Company's market, technology development, expansion and business plans, which are subject to change. The actual results may materially differ from those described in any forward-looking statement. Important factors that may cause actual results to differ are set forth in the company's periodic filing with the U.S. Securities and Exchange Commission including its Form 10-KSB for the year ended February 29, 2000. |
