SMOD News - Tuesday May 26, 6:13 am Eastern Time
Company Press Release
SMART Modular Technologies, Inc. Announces Stock Repurchase Program
FREMONT, Calif.--(BUSINESS WIRE)--May 26, 1998--SMART Modular Technologies, Inc. (NASDAQ:SMOD - news) announced today that it has been authorized by its Board of Directors to begin a stock repurchase program whereby up to 4,000,000 shares of its Common Stock may be repurchased in the open market from time to time.
The Company will utilize a portion of the reacquired shares for reissuance in connection with employee stock programs, but there are no other specific plans for the shares that might be purchased.
SMART Modular Technologies, Inc. is a leading independent manufacturer of specialty and standard memory modules, Flash memory cards, high performance embedded computer modules, as well as communication card solutions. SMART offers more than 500 products to leading OEMs in the computer, networking, and telecommunications industries. SMART has manufacturing facilities in California, Puerto Rico, Malaysia and Scotland, a design center in India and sales organizations worldwide. More information on SMART can be obtained on the Internet at smartm.com.
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