Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Osicom(FIBR) -- Ignore unavailable to you. Want to Upgrade?

To: David M. who wrote (2919)	11/12/1997 4:36:00 PM
From: David Pawlak	Read Replies (1) \| Respond to of 10479

SANTA MONICA, Calif.--(BUSINESS WIRE)--Nov. 12, 1997--Osicom Technologies, Inc. (Nasdaq:FIBR) announced today that its Board of Directors has authorized management to repurchase shares of the Company's common stock on the open market. "At current price levels of our stock, we believe that a prudent use for our cash on hand is a repurchase program," said John H. Gorman, Osicom's Chief Financial Officer. "Going into the fourth quarter, our backlog is at a record high of $20.6 million. Though there can be no guarantee, this indicates that our sales for the quarter may also be at record levels. On the other hand, our stock price is at a record low. Therefore, we feel that executing a stock repurchase program at this time is in the best interests of our shareholders," Mr. Gorman added. Osicom is an innovative leader in wireless-enabled networking(tm). The company allows businesses to connect through wire-line, fiber and wireless technologies, thereby expanding the reach of conventional networking. Osicom offers wireless-enabled solutions for LAN, WAN and broadband networks with products that include hubs and switches, routers, remote access servers, network print servers, PC and workstation adapter cards, video switches and multiplexers. Osicom markets and sells its products and services through a broad array of channels including world-wide distributors, Value Added Resellers, OEMs, carriers, and government agencies. The company has over 1000 employees worldwide and is headquartered in Santa Monica, California. Information about Osicom's products and services is available by calling toll-free 888-OSICOM8. For additional company, product and financial information visit the Osicom World Wide Web site, osicom.com . Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation the company's ability to develop, produce, and market products that incorporate new technology on a timely basis, that are priced competitively and achieve significant market acceptance; higher expenses associated with the development and marketing of new products; changes in product mix; risks of dependence on third-party component suppliers; inventory risks due to shifts in market demand; the presence of competitors with broader product lines and greater financial resources; intellectual property rights and litigation; needs for liquidity; and the other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission. CONTACT: Boston Communications Kanti Purohit, 617/912-1100 kpurohit@bcomm.com or Osicom Technologies, Inc. John Gorman, 310/581-4030