ANAREN ANNOUNCES STOCK REPURCHASE
ANAREN ANNOUNCES STOCK REPURCHASE SYRACUSE, N.Y., Oct. 23 /PRNewswire/ -- Anaren Microwave Inc.
(NASDAQ: ANEN) today announced its intent to repurchase up to 200,000 shares of its outstanding common stock on the open market. These purchases will be made from time to time at prevailing market prices.
The board of directors believes that the company's common stock is currently undervalued and a repurchase at this time is in the best interest of all shareholders. The company currently has 4,563,589 shares of common stock issued and outstanding. Anaren, located in Syracuse, N.Y., designs and manufactures microwave components, assemblies and receiver subsystems for use in tactical electronic applications for defense of ships, aircraft and land vehicles. It is traded on the NASDAQ Over-the-Counter National Market under the symbol ANEN. -0- 10/23/92 /CONTACT: Joseph Porcello of Anaren Microwave Inc., 315-432-8994, or Anthony D'Angelo of Sage Marcom Inc., 315-478-6612 for Anaren Microwave Inc./ (ANEN) CO: Anaren Microwave Inc. ST: New York IN: ARO SU:
SM -- CL004 -- 4100 10/23/92 11:14 EDT
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|Date:||Oct 23, 1992|
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