SANTA CLARA, Calif., July 1 /PRNewswire/ --
DSP Group, Inc. (Nasdaq: DSPG), a worldwide leader in developing and providing
solutions for the residential wireless market, announced today that it
repurchased 260,000 shares of its Common Stock during June 2003, at an
average price of $21.49 per share, for an aggregate price of approximately
$5.6 million. The repurchase was originally authorized in March 1999 under a
repurchase program in which the Board of Directors had authorized management
from time to time to purchase up to an aggregate of 4.0 million shares of the
Company's Common Stock in open-market and privately negotiated transactions.
After giving effect to the most recent repurchases, approximately
3.3 million shares of the Company's Common Stock have been purchased and
approximately 700,000 shares are still authorized for repurchase under the
current repurchase program.
During 2003, DSP Group has repurchased 286,000 shares of its Common Stock,
at an average price of $20.90 per share, for an aggregate price of
approximately $6.0 million. At March 31, 2003, the Company had cash,
cash equivalents and marketable securities in the amount of approximately
$240 million, which the Company currently believes is adequate to both fund
its business growth and repurchase additional shares of its Common Stock.
DSP Group will announce its Second Quarter 2003 results on Monday,
July 21, 2003, at approximately 6:00 a.m. EDT. Following the earnings
announcement, DSP Group will host a conference call at 8:30 a.m. EDT.
Investors are invited to listen to the conference call live over the Web by
accessing the Investor Relations section of the Company's Web site at
http://phx.corporate-ir.net/phoenix.zhtml?c=101665&p=irol-calendar .
About DSP Group, Inc.
DSP Group, Inc. is a fabless semiconductor company that is a leader in the
short-range wireless market. By combining its DSP cores technology with
advanced RF, communication technology and speech-processing algorithms,
DSP Group is a worldwide leader in developing and providing short-range
communication applications that include digital 900MHz, 2.4GHz, DECT (1.9GHz),
5.8GHz and Bluetooth for voice and data communication in residential, SOHO,
SME, enterprise and automotive applications. DSP Group's products include
advanced RF CMOS and communications technology. DSP Group also develops and
markets embedded, integrated silicon/software solution for
Voice-over-Digital-Subscriber Line (VoDSL) and Voice-over-Internet-Protocol
(VoIP) applications, as well as other Voice-over-Packet applications for
Integrated Access Device (IAD) and IP phone. More information about DSP Group
is available at http://www.dspg.com.
Contact: Yaniv Arieli, President of US Operations, Investor Relations,
DSP Group Inc., +1-408-986-4423, or yarieli@dspg.com.
SOURCE DSP Group, Inc.
 back to top
Related links:
http://www.dspg.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20020715/SFM118LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
CONTACT:
Yaniv Arieli, President of US Operations,
Investor Relations, DSP Group Inc., +1-408-986-4423, or
yarieli@dspg.com
|
