PR NewsWire
Atmel Corporation Announces Stock Buyback
SAN JOSE, Calif., Jan. 8 /PRNewswire/ -- Atmel Corporation (Nasdaq: ATML)
announced today that its Board of Directors has authorized the repurchase of
up to 5,000,000 shares of its Common Stock, representing approximately five
percent of the 102 million shares outstanding. This buyback program is in
addition to the 5,000,000 shares authorized by the Company's Board of
Directors in January 1996.
George Perlegos, President and Chief Executive Officer, stated, "We
believe our stock is undervalued, and our decision to increase the number of
shares in the buyback program expresses our confidence in the long-term
direction of Atmel and a strong commitment to increasing shareholder value."
Headquartered in San Jose, California, with principal manufacturing
facilities in Colorado Springs, Colorado and in Rousset, France, Atmel
designs, develops, manufactures, and markets on a worldwide basis Flash,
EEPROMs, and EPROMs, as well as programmable logic, microcontrollers and
application-specific devices.
Atmel product and financial information can be retrieved from its
Fax-on-Demand service. In North America call 800-292-8635. International,
from a fax phone, call 408-441-0732. You can send your request via e-mail to
literature@atmel.com or visit Atmel's Web site at atmel.com
SOURCE Atmel Corporation
-0- 01/08/98
/CONTACT: Kris Chellam, Chief Financial Officer, 408-436-4360, or Suzanne
Craig, Director of Investor Relations, 408-451-4811, both of Atmel
Corporation/
/Web site: atmel.com
(ATML)
CO: Atmel Corporation
ST: California
IN: CPR
SU:
KP-TW
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5183 01/08/98 06:30 EST prnewswire.com |
