Corsair Communications Announces Stock Repurchase Program.PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--June 23, 1999-- Corsair corsair: see Barbary States; piracy. Communications (Nasdaq:CAIR CAIR Council on American-Islamic Relations CAIR Clean Air Interstate Rule (EPA) CAIR Center for AIDS Intervention Research CAIR Changing Attitudes in Recovery CAIR California Association for Institutional Research ) today announced that its Board of Directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: a program to repurchase up to 1,000,000 shares, approximately 5%, of the company's outstanding common stock. Subject to price and market conditions, these purchases will be made from time to time in open market transactions using the company's available cash balances. "We believe that the repurchase of our stock represents an attractive opportunity for the utilization of a portion of our available cash, and is consistent with our commitment to increasing shareholder value," said Tom Meyer, president and chief executive officer. About Corsair Communications Corsair is a leading provider of software and system solutions for the wireless industry. The company's products include systems for fraud prevention and prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. billing. Corsair's PhonePrint wireless fraud prevention system is currently installed in over 170 markets worldwide, covering more than 25 million subscribers. 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. This press release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially because of various risks, including risks associated with product sales and installation, economic and political instability in international markets, demand for Corsair's products and services, continued growth of the wireless telecommunications industry, and other risks associated with Corsair's business. For an expanded discussion on such risks, please see the documents filed by Corsair Communications with the U.S. Securities and Exchange Commission. |
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