CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration
services and dense cluster computing systems, today reported that its
board of directors has authorized a new stock repurchase program, which
authorizes the Company to buy up to 350,000 shares of its Common Stock.
Stock purchases under the program will be made from time-to-time at the
discretion of management. The Company currently has approximately 53,000
shares authorized to repurchase under its previous stock repurchase
program.
Safe Harbor
The Company wishes to take advantage of the “Safe Harbor” provisions of
the Private Securities Litigation Reform Act of 1995 with respect to
statements that may be deemed to be forward-looking under the Act. Such
forward-looking statements may include, but are not limited to,
expectations relating to the company’s new stock repurchase program. The
Company cautions that numerous factors could cause actual results to
differ materially from forward-looking statements made by the Company.
Such risks include general economic conditions, market factors,
competitive factors and pricing pressures, and others described in the
Company's filings with the SEC. Please refer to the section on
forward-looking statements included in the Company's filings with the
Securities and Exchange Commission.
About CSP Inc.
Based in Billerica, Massachusetts and founded in 1968, CSP Inc. and its
subsidiaries develop and market best-of-breed IT solutions, systems
integration services, and high-performance computer systems. CSP’s
Systems segment includes the MultiComputer Division, which supplies
high-performance Linux cluster systems for a broad array of defense
applications, including radar, sonar and surveillance signal processing.
The Company’s MODCOMP, Inc. subsidiary, also part of its Service and
Systems Integration segment founded in 1970, is a leading provider of IT
solutions and systems integration services for complex IT environments.
MODCOMP works with third parties to develop cutting edge solutions in
the global IT markets and has offices in the U.S., U.K. and Germany.
More information about CSP is available on the company’s website at www.cspi.com.
To learn more about MODCOMP, Inc., consult www.modcomp.com.
CSP Inc.
Gary Levine, 978-663-7598 ext. 1200
Chief
Financial Officer
Fax: 978-663-0150
