C.P. Clare Board of Directors Authorizes Stock Repurchase.BEVERLY, Mass.--(BUSINESS WIRE)--Oct. 26, 1999-- C.P. Clare Corporation (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 :CPCL CPCL Chennai Petroleum Corporation Limited CPCL Computer Program Change Library CPCL Computer Program Control Library CPCL Component Prioritized Collection List ), announced today that the Board of Directors has authorized a share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program to buy up to one million shares of the Company's common stock in the open market from time to time over the next year. The Company had a cash position of over $39 million at the end of the most recent fiscal quarter ended September 26, 1999. C.P. Clare Corporation is a leader in the design and manufacture of high-voltage analog circuits analog circuit, electronic circuit that operates with currents and voltages that vary continuously with time and have no abrupt transitions between levels. Generally speaking, analog circuits are contrasted with digital circuits, which function as though currents or . The Company's products enable communications by providing the critical interface between high-voltage electrical signals and the low-voltage electronics that process those signals. Leading manufacturers of data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. , telecommunications and industrial equipment around the world rely on C.P. Clare for semiconductors and specialized electronic components. C.P. Clare trades on the NASDAQ exchange under the symbol CPCL. The Company is headquartered in Beverly, Mass., and has sales locations around the world with primary offices in Hasselt, Belgium; Taipei, Taiwan; and Tokyo, Japan. Information about C.P. Clare and its products is available at 978-524-6700 or on the Internet at http://www.cpclare.com. Except for historical information contained herein, the matters set forth in this news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as defined under the federal securities laws. Actual results could differ materially from the information set forth herein and there is no assurance that any anticipated future results will be achieved. |
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