Cypress to Purchase up to 2 Million Shares of its Common Stock.SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 27, 1997--Cypress Semiconductor Corporation (NYSE NYSE See: New York Stock Exchange :CY) announced today that it has been authorized by its Board of Directors to begin a stock repurchase program whereby up to 2 million shares of its Common Stock may be purchased in the open market from time to time. T.J. Rodgers, the Company's President, stated that the decision was made in view of the price at which the corporation's stock has recently traded, and that the company intends to use the stock in connection with employee incentive stock plans. "We feel that share repurchases are an excellent method of providing stock for these programs, and would be beneficial to shareholders, due to the stock's recent trading price." Cypress Semiconductor Corporation is an international supplier of high-performance integrated circuits with worldwide headquarters in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. . The company provides a broad range of products for leading computer, networking and telecommunications companies worldwide. The company's product line includes static RAM, EPROM EPROM in full erasable programmable read-only memory Form of computer memory that does not lose its content when the power supply is cut off and that can be erased and reused. , and specialty memories; programmable logic devices (PLDs); data communications products; and personal computer chipsets, timing devices, and USB USB in full Universal Serial Bus Type of serial bus that allows peripheral devices (disks, modems, printers, digitizers, data gloves, etc.) to be easily connected to a computer. microcontrollers. Cypress shares are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol CY. The company has a site on the worldwide web at http://www.cypress.com . "Safe Harbor" Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements in this press release regarding Cypress's business that are not historical facts are "forward-looking statements" involving risks and uncertainties, including, but not limited to, market-acceptance risks, the effect of economic conditions and shifts in supply and demand, the impact of competitive products and pricing, product development, commercialization and technological difficulties, and capacity and supply constraints. Please refer to the MD&A (Management Discussion and Analysis of Financial Condition and Results of Operations) for a discussion of such risks in the most recent Cypress annual report on Form 10-K, the quarterly report on Form 10-Q and the convertible debenture offering memorandum. CONTACT: Cypress Semiconductor Corporation Manny Manny may refer to: In nobility:
Joseph L. McCarthy, 408/943-2902 (Press) |
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