Nortech Systems Announces Stock Repurchase Authorization
August 15 2017 - 4:15PM
Business Wire
Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider
of full-service electronics manufacturing services (EMS), today
announced that its board of directors has approved a stock
repurchase program under which the company is authorized to
repurchase shares of its common stock in an amount up to $250,000
over the next year, in amounts of up to $62,500 per quarter. The
repurchases will be made in the open market in compliance with
applicable securities laws and other legal requirements and are
subject to market conditions, share price, available cash and other
factors. The plan does not obligate the company to acquire any
particular amount of common stock and it may be suspended or
discontinued at any time.
“Nortech is dedicated to creating long-term value and
repurchasing our common stock represents the board’s confidence in
our company’s future,” said Rich Wasielewski, Nortech Systems’
president and CEO.
About Nortech Systems
IncorporatedNortech Systems Incorporated
(www.nortechsys.com), based in Maple Grove, Minn., is a
full-service EMS provider of wire and cable assemblies, printed
circuit board assemblies and higher-level complete box build
assemblies for a wide range of industries. Markets served include
medical, industrial and aerospace/defense. The company has
operations in the U.S., Latin America and Asia. Nortech Systems
Incorporated is traded on the NASDAQ Stock Market under the symbol
NSYS.
Forward-Looking
StatementsThis press release contains forward-looking
statements made pursuant to the safe harbor provision of the
Private Securities Litigation Reform Act of 1995. While this
release is based on management’s best judgment and current
expectations, actual results may differ and involve a number of
risks and uncertainties. Important factors that could cause actual
results to differ materially from the forward-looking statements
include, without limitation: volatility in market conditions which
may affect market supply of and demand for the company’s products;
increased competition; changes in the reliability and efficiency of
operating facilities or those of third parties; risks related to
availability of labor; commodity and energy cost instability;
general economic, financial and business conditions that could
affect the company’s financial condition and results of operations;
as well as risk factors listed from time to time in the company’s
filings with the SEC.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170815006114/en/
Nortech Systems IncorporatedPaula Graff, 952-345-2244orBrookside
Communications GroupWarren
Djerf, 952-920-3908warren@brookcomm.net
Nortech Systems (NASDAQ:NSYS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Nortech Systems (NASDAQ:NSYS)
Historical Stock Chart
From Sep 2023 to Sep 2024