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San Jose, CA, 2008-05-01 - Pericom Semiconductor Corporation (NASDAQ: PSEM), a worldwide supplier of high-speed integrated circuits and frequency control products, today announced that its Board of Directors has authorized the repurchase of up to $30 million of its common stock. The company may repurchase shares from time to time in the open market or through private transactions, at the discretion of Pericom management.
As of April 30, 2008, the Company had approximately 25.3 million shares outstanding and had nearly completed the repurchase of 2,000,000 shares previously authorized by the Board of Directors and disclosed in a press release dated April 30, 2007.
"We continue to believe that investing in our Company through the share repurchase program is an excellent use of our cash, makes prudent economic sense and will enhance value for all Pericom shareholders," said Alex Hui, president and CEO. |
