PLAINVIEW, N.Y.--(BUSINESS WIRE)--May 23, 2005Aeroflex Incorporated (Nasdaq Symbol: ARXX), spécialiste de premier plan dans la conception, le développement et la fabrication de bancs de test automatisés et de solutions de microélectronique pour les marchés de l'aéronautique, de la défense et des communications haut-débit, a annoncé aujourd'hui que son Conseil d'administration a autorisé la Société à racheter jusqu'à 3 millions de ses actions ordinaires, soumises à certaines restrictions par les banques créditrices.
( BW)(NY-AEROFLEX)(ARXX) Aeroflex Incorporated Board of Directors Authorizes Stock Repurchase Program
PLAINVIEW, N.Y.--(BUSINESS WIRE)--May 23, 2005--Aeroflex Incorporated (Nasdaq Symbol: ARXX), a leading designer, developer and manufacturer of automated testing solutions and microelectronics for the aerospace, defense and broadband communications markets, announced today that its Board of Directors has authorized the Company to purchase up to 3 million shares of its Common Stock, subject to certain limitations imposed by our lending banks. Such purchases will be made from time to time, depending upon market conditions, at prices deemed appropriate by management
"We believe that a share repurchase is an excellent vehicle to enhance value for our shareholders," said Michael Gorin, Vice Chairman and CFO of Aeroflex.
"In a very tangible way, it also demonstrates the confidence our Board of Directors and management have in the Company's strategy and potential for the future."
Aeroflex Incorporated is a global provider of high technology solutions to the aerospace, defense and broadband communications markets
. The Company's diverse technologies allow it to design, develop, manufacture and market a broad range of test, measurement and microelectronic products. The Company's common stock trades on the Nasdaq National Market System under the symbol ARXX and is included in the S&P SmallCap 600 index.
Additional information concerning Aeroflex Incorporated can be found on the Company's Web site: www.aeroflex.com.
All statements other than statements of historical fact included in this press release regarding Aeroflex's financial position, business outlook, business strategy and plans and objectives of its management for future operations are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Aeroflex or its management, identify forward-looking statements
Such forward-looking statements are based on the current beliefs of Aeroflex's management, as well as assumptions made by and information currently available to its management.
Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, competitive factors and pricing pressures, the integration of the business of JcAir, Inc., changes in legal and regulatory requirements, technological change or difficulties, product development risks, commercialization difficulties and general economic conditions. Such statements reflect our current views with respect to the future and are subject to these and other risks, uncertainties and assumptions relating to Aeroflex's financial condition, results of operations, growth strategy and liquidity.
Aeroflex does not undertake any obligation to update such forward-looking statements
CONTACT: Aeroflex Incorporated Investor Inquiries: Michael Gorin, 516-694-6700
KEYWORD: NEW YORK
INDUSTRY KEYWORD: AEROSPACE/DEFENSE GOVERNMENT TELECOMMUNICATIONS NETWORKING
SOURCE: Aeroflex Incorporated