Data Translation Announces Stock Buyback Plan
MARLBORO, Mass., March 30 -- Data Translation, Inc.'s Board of Directors has approved the purchase of up to $1,000,000 of its shares of common stock over the remainder of the year. The purchases will be made on the open market at prevailing prices as market conditions and cash availability permit. Data Translation currently has 2,107,059 shares of common stock issued and outstanding.
This move reflects our confidence in the Company and is an effective way to return value to our stockholders, said Fred Molinari, Data Translation's chairman, president and CEO. Our last two quarters have been profitable and we believe that we are well positioned for future success. Molinari further noted that the Company has cash in excess of its operating needs.
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