Avistar Announces Stock Repurchase Program.REDWOOD SHORES, Calif. -- Avistar Communications Corporation (Nasdaq:AVSR (Audio Visual Speech Recognition) Using lip reading software to enhance speech recognition. In noisy environments where a camera can be included, AVSR improves the computer's ability to recognize the speaker's words by visually tracking lip movement and ), a provider of enterprise video communication solutions, today announced that its Board of Directors has approved the reactivation reactivation to become active after a period of quiescence or, as in bacterial and viral infections, latency. cross reactivation of a share repurchase plan share repurchase plan A corporation's plan for buying back a predetermined number of its own shares in the open market. Institution of a share repurchase plan derives from management's view that the company has limited outside investment opportunities and approved and implemented in March of 2001. Under that plan, management was authorized to repurchase up to $2.0 million dollars of Avistar stock in the open market from time to time. Actual purchases to date have not been significant. The re-authorization allows management to acquire shares with an aggregate purchase price of up to $100,000 dollars under the prior program, as it deems appropriate. "Our Board of Directors believes that an investment in our own stock, given its current valuation, would be beneficial to the Company and its stockholders," stated Gerald J. Burnett, Avistar's Chairman and Chief Executive Officer. About Avistar Communications Corporation Avistar develops, markets and supports video collaboration solutions for the enterprise, all powered by the AvistarVOS(TM) software. From the desktop, Avistar delivers TV-quality video calling, recording, publishing to web and emails, video-on-demand, broadcast, and document sharing. Avistar delivers on vBusiness -- video-enabling business -- by integrating visual communications into the daily workflow and connecting communities of users within and across enterprises. Founded in 1993, Avistar Communications Corporation is headquartered in Redwood Shores, California Redwood Shores is an upscale and desirable [1] waterfront neighborhood on the San Francisco Peninsula in California. It is located on the eastern edge of Belmont, but is actually part of incorporated Redwood City. , with sales offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and London. Avistar's technology is used in more than 35 countries. Collaboration Properties, Inc Collaboration Properties, Inc. (CPI) is a wholly owned subsidiary of Avistar Communications Corporation. It holds US and foreign patents in the primary areas of presence-based interactions, desktop video, recorded and live media at the desktop, multimedia documents, data sharing, ., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Avistar Communications Corporation, holds a broad portfolio of patents covering the AvistarVOS platform as well as multiple software and hardware video collaboration products. For more information, visit www.avistar.com. Copyright (C) 2004 Avistar Communications Corporation. All rights reserved. Avistar, AvistarVOS, and the Avistar logo are trademarks or registered trademarks of Avistar Communications Corporation. |
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