RELM Wireless Announces Stock Repurchase Program
WEST MELBOURNE, Fla., March 8, 2013 /PRNewswire/ -- RELM Wireless Corporation (NYSE MKT: RWC) today announced that its Board of Directors approved a repurchase program for the repurchase of up to $2,500,000 of its common stock through December 31, 2013. Repurchases were authorized to be made from time to time through a variety of methods, including open market repurchases and privately negotiated transactions, and will be funded from available cash. There can be no assurance as to the amount, timing or prices of repurchases, and the specific timing and amount of repurchases will vary based on market conditions, share price and other factors. The repurchase program may be suspended, modified or terminated by the Board at any time
About RELM Wireless Corporation
As an American Manufacturer for more than 60 years, RELM Wireless Corporation has produced high‑specification two‑way communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies, as well as radios for use in a wide range of commercial and industrial applications. Advances include a broad new line of leading digital two‑way radios compliant with APCO Project 25 specifications. RELM's products are manufactured and distributed worldwide under BK Radio and RELM brand names. The Company maintains its headquarters in West Melbourne, Florida and can be contacted through its web site at www.relm.com or directly at 1‑800‑821‑2900. The Company's common stock trades on the NYSE MKT market under the symbol "RWC".
This press release contains certain forward-looking statements that are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act Of 1995. These forward-looking statements concern the Company's operations, economic performance and financial condition and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others, the following: changes or advances in technology; the success of our LMR product line; competition in the land mobile radio industry; general economic and business conditions, including federal, state and local government budget deficits and spending limitations; the availability, terms and deployment of capital; reliance on contract manufacturers and suppliers; heavy reliance on sales to agencies of the U.S. government; our ability to utilize deferred tax assets; retention of executive officers and key personnel; our ability to manage our growth; government regulation; business with manufacturers located in other countries; our inventory and debt levels; protection of our intellectual property rights; acts of war or terrorism; and any infringement claims. Certain of these factors and risks, as well as other risks and uncertainties, are stated in more detail in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and in the Company's subsequent filings with the SEC. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.
SOURCE RELM Wireless Corporation