COMARCO Announces Share Repurchase Authorization.SANTA ANA, Calif.--(BUSINESS WIRE)--Sept. 16, 1999-- COMARCO, 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 :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 authorized the repurchase, at its discretion, of up to 500,000 additional shares of its common stock bringing the total authorized 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. to 2,000,000 shares. COMARCO has repurchased approximately 1,400,000 shares at an average price of $10.65 over the last seven years, in accordance with the existing authorization. "We believe that COMARCO has been and continues to be an excellent value," commented 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. . "During this fiscal year we have repurchased over 170,000 shares, principally in open market transactions. Our seven-year repurchase program has added significantly to our earnings per share in each of the last several years. We would be pleased if our shareholders can benefit as much from our future share repurchases as they have from our past buybacks." For further information contact Don Bailey at 714/796-1800 or the Shareholder Information Office at 714/796-1818. Our web sites can be found at www.cmro.com or www.comarco.com. COMARCO, Inc. (NASDAQ:CMRO) provides wireless communications products, including advanced wireless network evaluation equipment to the 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. industries worldwide, as well as information technology, management and staffing services, to the public and private sectors. |
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