Science & Technology
Science and Technology
Science and Technology
Fri, January 16, 2009
Thu, January 15, 2009 PHAZAR CORP Announces Share Repurchase Program
MINERAL WELLS, Texas--([ BUSINESS WIRE ])--PHAZAR CORP, (NASDAQ: ANTP) announced today that at a regularly scheduled meeting, the Board of Directors of PHAZAR CORP authorized a share repurchase program, not to exceed $1,000,000. The resolution permits the Company to purchase common shares in open market transactions from time to time, subject to market conditions, at its discretion.
The shares will be held as Treasury shares and will be used from time to time to fund outstanding option grants when and if exercised, directors fees and compensation and other equity incentive based benefit programs which might arise in the future. However, the Company is not obligated to purchase any shares.
Commenting on the Board resolution, Garland P. Asher, Chairman and CEO, remarked: "Given our strong cash balances and the current negligible interest rates available on cash equivalent investment instruments, purchasing shares for Treasury with a portion of our cash should be a better potential investment return for our shareholders."
More information and analysis of PHAZAR CORP's financial results is provided in the management discussion and analysis of financial condition and results of operations in the Form 10-Q for the second quarter ended November 30, 2008, which was filed with the Securities and Exchange Commission on January 14, 2009.
The Form 10-Q is available at the SEC's website at [ www.sec.gov ] and PHAZAR CORP'S website at [ www.phazarcorp.com ].
Product information is available at [ www.antennaproducts.com ], [ www.truemeshnetworks.com ] and [ www.phazar.com ].
The common stock of PHAZAR CORP is listed on the NASDAQ Capital Market under the trading symbol "ANTP." This press release contains forward-looking information within the meaning of Section 29A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performances and underlying assumption and other statements, which are other than statements of historical facts. Certain statements contained herein are forward-looking statements and, accordingly, involve risks and uncertainties, which could cause actual results, or outcomes to differ materially from those expressed in the forward-looking statements. The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, including without limitations, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties, but there can be no assurance that management's expectations, beliefs or projections will result, or be achieved, or accomplished.
