Applied Signal Technology Inc. Announces Common Stock Repurchase Program.SUNNYVALE, Calif.--(BUSINESS WIRE)--Dec. 1, 1997--Applied Signal Technology Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :APSG APSG Antisymmetrized Product of Separated Geminals ) announced that the company's board of directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the company to repurchase from time to time at management's discretion up to 300,000 shares of its own common stock. Purchases shall be made on the open market or in privately negotiated transactions during the next 12-month period ending Oct. 31, 1998 at prevailing market prices. As of Oct. 31, 1997, the company had approximately 8,356,000 shares of common stock outstanding. Purchases will be made using the company's own cash resources. Shares repurchased will be retired and are intended to offset future issuances under the company's current or future employee benefit plans or for other corporate purposes. Applied Signal Technology designs, develops, manufactures and markets advanced digital signal processing See DSP. Digital Signal Processing - (DSP) Computer manipulation of analog signals (commonly sound or image) which have been converted to digital form (sampled). equipment to collect and process a wide range of telecommunications signals for signal reconnaissance applications. For additional company-related information, visit the company's Website at http://www.appsig.com . CONTACT: Applied Signal Technology Inc., Sunnyvale Brian M. Offi, 408/749-1888 (Chief Financial Officer) Mary Rogge, 408/749-1888 (Investor Relations Investor relations The process by which the corporation communicates with its investors. ) |
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