RF Industries' Board of Directors Announces Stock Repurchase Program
SAN DIEGO -- April 16, 2014
RF Industries Ltd. (NASDAQ:RFIL) today announced that its Board of Directors
has authorized the repurchase of up to 500,000 shares of the Company's common
Share repurchases, if any, will be made in the open market. The Company
intends to effect any share purchases in compliance with SEC Rule10b-18. The
timing and actual number of shares repurchased will depend on a variety of
factors including price, market conditions and applicable legal requirements.
The share repurchase program does not obligate the Company to repurchase any
specific number of shares and may be suspended or terminated at any time
without prior notice.
Howard Hill, President and Chief Executive Officer, commented, “This stock
buyback plan reaffirms our ongoing efforts to generate returns for
shareholders and reflects our confidence in the long-term prospects for the
Company. RF Industries has been profitable for 20 consecutive years and our
very strong balance sheet provides the financial flexibility both to invest in
growth while also returning capital to shareholders.”
About RF Industries
RF Industries is a leading designer and manufacturer of innovative
interconnect products and complex cable assemblies across diversified, high
growth markets including wireless carriers & infrastructure, medical and
industrial.The Company’s products include RF connectors, coaxial and custom
cable assemblies, fiber optic cables, wiring harnesses and medical wiring. The
Company’s leading edge connectivity solutions are used throughout the growing
and evolving wireless infrastructure. The Company has reported 20 consecutive
years of profitability and is headquartered in San Diego, California with
operations in Las Vegas, Nevada and Yaphank, New York.Please visit the RF
Industries website at www.rfindustries.com.
This press release contains forward-looking statements with respect to future
events which are subject to a number of factors that could cause actual
results to differ materially. Factors that could cause or contribute to such
differences include, but are not limited to: changes in the telecommunications
industry; the operations of the Cables Unlimited division; and the Company’s
reliance on certain distributors for a significant portion of anticipated
revenues. Further discussion of these and other potential risk factors may be
found in the Company’s public filings with the Securities and Exchange
Commission (www.sec.gov) including its Form 10-K. All forward-looking
statements are based upon information available to the Company on the date
they are published and the Company undertakes no obligation to publicly update
or revise any forward-looking statements to reflect events or new information
after the date of this release.
John Nesbett/Jennifer Belodeau, 203-972-9200
Institutional Marketing Services (IMS)
RF Industries Ltd.
Howard Hill, 858-549-6340
President and Chief Executive Officer
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