SAN JOSE, Calif., Oct. 7 /PRNewswire/ -- Hello Direct, Inc., (Nasdaq:
HELO), the leading developer and direct marketer of desktop telephone
productivity tools, today announced that its board of directors has authorized
the repurchase of up to one million shares of its outstanding common stock,
effective immediately. The company will repurchase the shares in the open
market from time to time, subject to market conditions. The number of shares
of common stock actually acquired by Hello Direct will depend on subsequent
developments and corporate needs, and the repurchase program may be
interrupted or discontinued at any time. The company currently has just over
five million shares outstanding.
"This share repurchase program clearly demonstrates the board of
directors' and management's confidence in Hello Direct's long-term prospects
and is consistent with the company's continuing efforts to enhance shareholder
value," said Alec Glover, chief executive officer. "The program will partly
offset the effects of the recent stock distributions by our original venture
capital investors, which totaled over 2.4 million shares and more than doubled
our float. Even as we repurchase shares, we plan to maintain sufficient
resources to fund internal expansion and to pursue acquisitions, as
appropriate."
Hello Direct, Inc. (http://www.hello-direct.com) is the leading developer and
direct marketer of telephone productivity tools including headsets,
teleconferencing, wireless and related desktop products. Through its
distinctive catalogs, website and outbound telemarketing programs, the Company
offers a broad selection of commercial-grade brand name, proprietary,
nationally branded and private label products at competitive prices that
provide superior solutions to its business end users' evolving communication
needs.
This release contains forward-looking statements including, but not
limited to, statements regarding the company's repurchase of shares and the
maintenance of sufficient resources to fund internal expansion and to pursue
acquisitions. These forward looking statements involve risks and
uncertainties that could cause actual results to differ, and such differences
could be material.
Such risks and uncertainties include, but are not limited to the
following: the market price of the company's common stock and the uncertainty
of the Company's future operating results. There can be no assurance that the
Company will be successful in addressing such risks and uncertainties.
Investors are strongly encouraged to review the section entitled "Factors
affecting operating results and market price of stock" in the Company's annual
report on Form 10-K for the year ended December 31, 1997, which is on file at
the Securities and Exchange Commission for a discussion of risks and
uncertainties that could affect operating results and the market price of the
Company's stock.
SOURCE Hello Direct, Inc.
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CONTACT:
Raymond E. Nystrom, Vice President Operations
and Chief Financial Officer, of Hello Direct, 408-363-5075; Don
Markley, general information, or Reid Cox, analyst contact, of
the Financial Relations Board, 415-986-1591
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