EX-99 3 j9216_ex99.htm EX-99

Exhibit 99

 

Investor Relations Contacts:
Chris Danne, Brinlea Johnson
the blueshirt group for WJ Communications
415-217-7722
chris@blueshirtgroup.com
brinlea@blueshirtgroup.com

 

 

WJ Communications Announces Stock Repurchase Program

 

April 2, 2003, San Jose, CA — WJ Communications, Inc. (Nasdaq:WJCI) reported today that its Board of Directors has authorized the repurchase of up to $2 million of the Company’s common stock.  The new program is effective immediately.

 

“As we continue to focus on building a leading RF semiconductor business, we believe that repurchasing WJ Communications stock while maintaining a strong cash balance is in the best interest of our shareholders,” said Michael Farese, Ph.D., Chief Executive Officer and President of WJ Communications.  “This program is a testament to our confidence in our strategy and long term growth opportunity.”

 

Purchases under WJ Communications’s stock repurchase program may be made in the open market, through block trades or otherwise.  Depending on market conditions and other factors, these purchases may be commenced or suspended at any time or from time-to-time without prior notice.

 

About WJ Communications

WJ Communications Inc. is a leading RF semiconductor company focusing on the design and manufacture of high-quality devices and multi-chip modules (MCMs) for telecommunications systems worldwide. WJ’s highly reliable amplifier, mixer, RF IC and MCM products are used to

 

 



 

 

transmit and receive signals that enable current and next generation wireless and wireline services. For more information visit www.wj.com or call (408) 577-6200.

 

This release contains forward-looking statements. These forward-looking statements are not historical facts but rather are based on current expectations and our beliefs. Words such as “may,” “will,” “expects,” “intends,” “plans,” “believes,” “seeks” “could” and “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements.  The Company’s actual results may differ materially from those projected in these forward-looking statements as a result of a number of factors, including, but not limited to, the Company’s successful transition to a pure RF semiconductor company, the Company’s ability to continue to cut future losses and return to profitability in the long term, the Company’s ability to utilize its cash effectively, successful resolutions of certain contractual matters, actual improvement in overall demand, technological innovation in the wireless and fiber optic communications markets, the availability and the price of raw materials and components used in the Company’s products, the demand for wireless and fiber optic systems and products generally as well as those of our customers, the adequacy of the Company’s obsolete inventory reserve, the success of the Company’s new product introductions and the Company’s ability to expand its customer base, broaden its product offering and deepen its penetration into existing customers, general economic conditions including the global economic slowdown and such other factors as described from time to time in the Company’s filings with the Securities & Exchange Commission.   Readers of this release are cautioned not to place undue reliance on these forward-looking statements.  The Company undertakes no obligation to publicly update or revise the forward-looking statements contained herein to reflect changed events or circumstances after the date of this press release.