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WEGENER CORPORATION ANNOUNCES STOCK BUY-BACK PROGRAM
Duluth, GA January 28, 1999 - Wegener Corporation (NASDAQ: WGNR), announced today that its Board of Directors has approved a stock repurchase program authorizing the repurchase of up to 1 million shares of its common stock over the next twelve months. Purchases will be made from time to time as market and business conditions warrant, in open market transactions at prevailing market prices. The Company has approximately 12 million shares outstanding. "This affirms our commitment to maximize shareholder value," stated Wegener Chairman and CEO, Robert A. Placek. "We are convinced that the range in which our shares have traded is not a true representation of the value of our Company. Our working capital base permits us to execute this strategy and fund operations over the next twelve months."
Wegener Corporation (NASDAQ: WGNR) based in Duluth, Georgia, through its wholly-owned subsidiaries, is an international provider of digital solutions for audio, video and broadcast data networks. Applications include broadcast television, cable television, radio networks, business television, distance education, business music, satellite paging and financial information distribution. COMPEL, Wegener's patented network control systems provide networks with unparalleled ability to regionalize programming and commercials through total receiver control. COMPEL network control capability is integrated into Wegener digital satellite receivers. Wegener Communications can be reached at 770.814.4000 or on the World Wide Web at www.wegener.com.
C. Troy Woodbury, Jr. Statements about the Wegener Corporations future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Companys actual results could differ materially from expected or inferred results. |
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voice 770 814-4000 fax 770 623-0698 email: info@wegener.com |
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©1999 Wegener Communications |
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