PCTEL, Inc. (NASDAQ: PCTI), a leader in propagation and optimization
solutions for the wireless industry, announced today that its Board of
Directors authorized $5 million toward the continuation of the company’s
open market repurchase program. The company has purchased a total of
seven million shares since 2002 through previous buyback activities.
"These are unusual times with respect to stock value,” said Marty
Singer, PCTEL’s Chairman and CEO. "We believe that PCTEL is an
exceptional value at current price levels and our open market stock
buybacks, along with investment in organic growth and in acquisitions,
should be an element of our long-term strategy,” added Singer.
About PCTEL
PCTEL, Inc. (NASDAQ: PCTI),
is a global leader in propagation and optimization solutions for the
wireless industry. The company designs and develops software-based
radios for wireless network optimization and develops and distributes
innovative antenna solutions. PCTEL’s MAXRAD® antenna
solutions address public safety, military, and government applications;
SCADA, Health Care, and Agricultural applications; and indoor wireless,
wireless backhaul, and cellular applications. Its portfolio includes a
broad range of antennas for WiMAX, Land Mobile Radio, GPS, telemetry,
RFID, WiFi, fleet management, and mesh networks. The company’s SeeGull®
scanning receivers, receiver-based products and CLARIFY®
interference management solutions are used to measure, monitor and
optimize cellular networks. PCTEL’s products are sold worldwide through
direct and indirect channels. For more information, please visit the
company’s web site at: www.pctel.com.
PCTEL Safe Harbor
This press release contains "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995. Specifically, the
statements regarding PCTEL's authorization to repurchase up to $5
million of the company’s common stock in the open market are forward
looking statements within the meaning of the safe harbor. These
statements are based on management's current expectations and actual
results may differ materially from those projected as a result of
certain risks and uncertainties that are detailed in PCTEL's Securities
and Exchange Commission filings. These forward-looking statements are
made only as of the date hereof, and PCTEL disclaims any obligation to
update or revise the information contained in any forward-looking
statement, whether as a result of new information, future events or
otherwise.