SANTA CLARITA, Calif.--(BUSINESS WIRE)--Oct. 23, 2000--Taitron Components Inc. (NasdaqNM:TAIT), the ``Discrete Components Superstore,'' today announced that its board of directors approved an additional stock repurchase of up to $1 million.
Under a previously announced stock repurchase program, the company had purchased approximately 1.2 million Class A common shares through Sept. 30, 2000, for an aggregate purchase price of approximately $3.5 million. Book value per share as reported on the company's last report for the quarter ended June 30, 2000, was $4.52 per share.
Stewart Wang, chief executive officer, commented: ``We appreciate the support from our board of directors. Our last repurchase program was successful and we expect to have the same results with the additional $1 million.''
Taitron, based in Santa Clarita, Calif., is the ``Discrete Components Superstore.'' The company distributes a wide variety of transistors, diodes and other discrete semiconductors, optoelectronic devices and passive components utilized by other electronic distributors, original equipment manufacturers and contract electronic manufacturers.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, such factors as general economic conditions, fluctuations in product demand, the company's ability to maintain customer and vendor relationships, technological advancements, impact of competitive products and pricing, risks of foreign operations, and other information detailed from time to time in the company's filings with the United States Securities and Exchange Commission.