PCTEL Provides Update on Share Buyback Program
06 January 2016 - 12:50AM
Business Wire
Continues to Execute Against Buyback
Authorization
PCTEL, Inc. -- (NASDAQ: PCTI), a leader in Performance
Critical Telecom solutions, announced today the results of its
share buyback program during the fourth quarter of 2015. During the
quarter, the company bought back 448,769 shares at an average price
of $5.32. The company invested $2,386,000 in the buyback of it
shares during the quarter. At the end of 2015, the company had 17.7
million shares outstanding. Approximately one million of those
shares are unvested, restricted shares.
“We believe that the acquisition of our shares at this price
level is in the best interest of our shareholders,” said Marty
Singer, PCTEL’s Chairman and CEO. “Since 2002, the company has
bought back approximately 10.9 million shares and paid $22.2
million in one-time and quarterly dividends,” added Singer.
The company entered the year with 783,000 shares remaining under
the current buyback program.
About PCTEL
PCTEL, a global provider of RF expertise, delivers
Performance Critical Telecom solutions to the
wireless industry. PCTEL benchmarks and optimizes wireless networks
with its data tools, engineering services, and RF products. PCTEL's
antennas and site solutions are vital elements for networks serving
SCADA, fleet management, health care, public safety, and
education.
PCTEL's RF Solutions products and services improve the
performance of wireless networks globally. PCTEL's performance
critical products include its MXflex®, IBflex®, and EXflex®
SeeGull® scanning receivers and related SeeHawk® Touch, SeeHawk®
Collect, and SeeWave® tools. PCTEL's sophisticated engineering
services utilize these products as well as the SeeHawk™ Analytics
portfolio (Network Analytics, Subscriber Analytics, Map Analytics,
and Business Intelligence).
PCTEL Connected Solutions designs and delivers
performance critical antennas and site solutions for public and
private wireless networks globally. PCTEL's performance critical
antenna solutions include high rejection and high performance GPS
and GNSS products, the industry leading Yagi portfolio, mobile and
indoor LTE, broadband, and LMR antennas and PIM-rated antennas for
transit, in-building, and small cell applications. We leverage our
design, logistics, and support capabilities to deliver performance
critical antenna and site solutions into carrier, railroad, utility
applications, oil and gas, and other vertical markets.
PCTEL's products are sold worldwide through direct and indirect
channels. For more information, please visit the company's web
sites: pctel.com, antenna.com, or rfsolutions.pctel.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160105005371/en/
PCTEL, Inc.Jack SellerPublic Relations(630)
339-2116jack.seller@pctel.com
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