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| [December 11, 2012] |
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Wireless Telecom Group Announces 1.0M Increase in Share Repurchase Program
PARSIPPANY, N.J. --(Business Wire)--
Wireless Telecom Group, Inc. (NYSE MKT: WTT) announced today that its
Board of Directors (the "Board") authorized on December 5, 2012, the
repurchase of an additional 1.0 million shares of the Company's common
stock under the Company's previously approved stock repurchase program.
To date, approximately 2.2 million shares have been repurchased under
the current program. Purchases will continue to be made from time to
time in the open market at Management's discretion. As of December 11,
2012, approximately 1.3 million shares may be repurchased by the Company
under the current program. The stock repurchase program does not have an
expiration date and the timing and amount of shares repurchased will be
determined by a number of factors including the levels of cash
generation from operations, cash requirements for investments, and
current share price. The stock repurchase program may continue to be
modified or discontinued at any time.
Paul Genova, CEO of Wireless Telecom Group, Inc. stated, "Our Board's
authorization to once again expand the share repurchase program
continues to demonstrate our confidence in the Company's ability to
enerate positive future cash flows. We continue to believe this
repurchase program is a prudent use of available capital which will
ultimately benefit our shareholders."
Wireless Telecom Group designs and manufactures radio frequency (RF) and
microwave-based products for wireless and advanced communications
industries and markets its products and services worldwide under the
Boonton, Microlab and Noisecom brands. Its complementary suite of high
performance components and instruments includes RF combiners and
broadband combiner boxes for in-building distributed antenna systems
deployments, RF power splitters and diplexers, hybrid couplers, peak
power meters, signal analyzers, noise modules, precision noise and
generators. The Company serves both commercial and government markets
with workflow-oriented, WiFi (News - Alert), WiMAX, satellite, cable, radar, avionics,
medical, and computing applications. Wireless Telecom Group is
headquartered in Parsippany, New Jersey, in the New York City
metropolitan area, and maintains a global network of Sales and Service
offices for excellent product service and support.
Wireless Telecom Group's website address is http://www.wtcom.com.
Except for historical information, the matters discussed in this news
release may be considered "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Such
statements include declarations regarding the intent, belief or current
expectations of the Company and its management. Prospective investors
are cautioned that any such forward-looking statements are not
guarantees of future performance and involve a number of risks and
uncertainties that could materially affect actual results. Such risks
and uncertainties are identified in the Company's reports and
registration statements filed with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for the year ended
December 31, 2011.
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