Blonder Tongue Laboratories announces 100,000 share stock repurchase program.OLD BRIDGE, N.J.--(BUSINESS WIRE)--April 1, 1997--Blonder Tongue Laboratories Inc. (AMEX AMEX See: American Stock Exchange : BDR BDR Border BDR Bangladesh Rifles (military forces in Bangladesh) BDR Backup Designated Router (networking) BDR Bombardier (artillery rank) BDR Backup Disaster Recovery ) announced that its Board has authorized the repurchase of up to 100,000 shares of the company's common stock. The company, which is a manufacturer of electronics and systems equipment for the franchised and private cable television industries, said the shares will be purchased in the open market at prevailing prices, subject to market conditions and other factors. Purchases will be made pursuant to Securities and Exchange Commission Rule 10b-18. The shares will be used for the company's stock-based incentive plan and for general corporate purposes. "At its present trading levels, we believe our stock is an attractive opportunity for the company. Our strong liquidity position enables us to take advantage of this opportunity," said James A. Luksch, chairman of the board, president and chief executive officer. "The stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program serves both our current stockholders and our company well." Blonder Tongue's products are used in the acquisition, conversion, distribution and protection of television signals. Its customers typically provide television services to apartments and condominiums, hotels, motels, schools, hospitals and prisons. -0- "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The information set forth above includes "forward-looking" statements and accordingly, the cautionary statements contained in the Blonder Tongue's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1996 (See Item 1: Business, Item 3: Legal Proceedings, and Item 7: Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations), and other filings with the Securities and Exchange Commission are incorporated herein by reference. Blonder Tongue's actual results may differ materially from the anticipated results or other expectations expressed in Blonder Tongue's forward-looking statements. CONTACT: Blonder Tongue Laboratories, Old Bridge James A. Luksch, 908/679-4000 |
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