Vialta Announces Increase in Stock Repurchase Program
FREMONT, Calif.--(BUSINESS WIRE)--June 26, 2002--Vialta, Inc. (OTCBB:VLTAA - News), a developer of consumer electronics and digital home entertainment products, announced today that its Board of Directors has authorized the company to repurchase, in open market or private transactions at management's discretion, up to an additional 10 million shares of Vialta Class A common stock. As of June 20, 2002, Vialta had approximately 42.8 million Class A and 40.5 million Class B shares outstanding.
About Vialta
Vialta is a developer of consumer electronics and digital home entertainment products. Vialta was formed in April 1999 and is publicly traded on the OTC Bulletin Board under the symbol "VLTAA". The company is headquartered in Fremont, California with offices in Los Angeles, Toronto and Hong Kong. More information about Vialta can be found at www.vialta.com.
The matters discussed in this news release include certain forward-looking statements that involve risks and uncertainties that may cause actual results to differ materially from those indicated, including, but not limited to, the timely introduction and acceptance of new products, the risks associated with being a development stage company, and the other risks detailed from time to time in the SEC reports of Vialta, including Vialta's Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q. The forward-looking statements contained herein are made only as of the date of this press release, and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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