Comtech Telecommunications Corp. Declares 3-for-2 Stock Split.Business Editors MELVILLE, N.Y.--(BUSINESS WIRE)--June 18, 2003 Comtech Telecommunications Corp. (Nasdaq: CMTL CMTL Chief Military Training Leader CMTL Center for Mathematics, Teaching and Learning ), a leading provider of telecommunications transmission and RF microwave amplifier products and mobile 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. services, today announced that its Board of Directors has approved a three-for-two stock split to be effected in the form of a stock dividend. The additional shares will be issued on July 14, 2003 to stockholders of record at the close of business on June 30, 2003. Cash will be distributed in lieu of any fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. . The Company currently has 7,628,715 shares outstanding. After the split, there will be approximately 11,443,000 shares outstanding. Fred Kornberg, President and Chief Executive Officer, noted "This stock split will increase our shares outstanding and should enhance the liquidity in the market for our shares. We believe this will make our shares more accessible to individual and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. ." Comtech Telecommunications Corp. (www.comtechtel.com) is an innovative player in domestic and global high-technology markets. Through its operating units, Comtech pursues opportunities in three interrelated in·ter·re·late tr. & intr.v. in·ter·re·lat·ed, in·ter·re·lat·ing, in·ter·re·lates To place in or come into mutual relationship. in market segments: telecommunications transmission, RF microwave amplifiers, and mobile data communications services. In each of these segments, growth has been driven by the increasing demand for telecommunications infrastructure and network and messaging services. The Company's specialties include the design of and manufacture of advanced products and networks used for transmission of voice, data and video using satellite, over-the-horizon microwave, terrestrial line-of-sight and other wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. systems. More than 300 distinct Comtech products are in service in more than 100 countries. Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company's Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings. PCMTL PCMTL Progressive Cars Montreal (Montreal, Canada) |
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