COMARCO Announces Recent Stock Repurchase.YORBA LINDA Yorba Linda (yôr`bə lĭn`də), city (1990 pop. 52,422), Orange co., S Calif., in a region of citrus fruit; inc. 1967. The city has grown tremendously along with the southern California area; its population increased fivefold between , Calif.--(BUSINESS WIRE)--October 13, 1998--COMARCO, Inc. (Nasdaq:CMRO CMRO Current Medical Research and Opinion (journal) CMRO Concerned Motorcycle Riders of Ohio CMRO Canadian Mud Racing Organization CMRO Certified Medical Review Officer CMRO Complex Maintenance, Repair & Overhaul ) announced today that it has, in the past week, repurchased 140,000 shares of COMARCO stock in the open market. This brings the total amount of stock repurchased this quarter to 245,000 shares, and the overall total to 1,210,000 of 1,500,000 shares authorized Shares authorized The maximum number of shares of stock of a company allowed in the articles of incorporation, which may be changed only by a shareholder vote. See: Issued and outstanding. shares authorized See authorized capital stock. for repurchase by COMARCO's Board of Directors. The Company's repurchase action was taken to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. recent market fluctuations. The company believes its prospects for the future are good due the overall positive customer reaction to its new line of wireless products and the strengthening of its services business. For example, under a $2.9 million contract, Bell Atlantic Mobile (BAM Bam (bäm), town (1996 pop. 70,100), Kerman prov., SE Iran, on the intermittent Bam River. Located on the western edge of the Dasht-e Lut, Bam is a trade center in a henna-growing region. Dates and other fruits are also grown; camels are raised. ) will standardize its network quality benchmarking program using COMARCO's field measurement equipment. BAM is currently deploying COMARCO's recent product introduction, the BaseLINE(TM) Quality Analyzer, in each of BAMs 13 markets. Designed to provide cellular and PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. carriers with detailed information on the actual performance of each of their competitors, BaseLINE(TM) forms the heart of a comprehensive ongoing quality improvement process. "Our new BaseLINE(TM) product line, with its Q-MOS audio quality measurement capability, and our just introduced digital Revenue Assurance Product line satisfy significant demand from our customer base, cellular and PCS telephone carriers," stated Don M. Bailey, COMARCO's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "In addition, important new installations of our roadside call-boxes are scheduled in key southern states Southern States U.S. Confederacy government of 11 Southern states that left the Union in 1860. [Am. Hist.: EB, III: 73] Dixie popular name for Southern states in U.S. and for song. [Am. Hist. later this year. Also, we have begun initial shipments of our small form factor power adapter An external power supply for laptop computers and just about every portable or semi-portable electronic device on the market. Also called an "AC adapter," it contains a rectifier to convert AC current to DC and a transformer to convert voltage from 120 down to 9, 12, 15 or whatever is , designed for the traveling professional. Finally, our government information technology and commercial staffing businesses have grown during this quarter." "All of these factors, combined with our significant free cash position, have led us to the conclusion that our stock is an excellent purchase for our continuing shareholders," Mr. Bailey concluded. Except for historical information contained herein, the matters set forth in this news release are forward looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward looking statements. Potential risks and uncertainties include factors such as the level of sales of our wireless communications and software products, timely and cost effective product development, foreign marketing, the level of competition for the Company's products and services, and the ability to meet the technical requirements of our customers. Investors are also directed to consider a more detailed description of risks and uncertainties facing the Company discussed in documents filed by the Company with the Securities and Exchange Commission. For further information contact Don Bailey at 714/282-3813 or the Shareholder Information Office at 714/282-3825. Our web sight can be found at www.cmro.com. COMARCO, Inc. (Nasdaq:CMRO) provides wireless communications products, as well as engineering and information technology, management and staffing services, to the public and private sectors. |
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