SOURCE: Cascade Microtech

Cascade Microtech

August 10, 2015 21:58 ET

Cascade Microtech Announces $15 Million Stock Repurchase Program

BEAVERTON, OR--(Marketwired - Aug 10, 2015) - Cascade Microtech, Inc. (NASDAQ: CSCD) today announced that its Board of Directors has authorized a new stock repurchase program. Under this program, the Company may repurchase up to $15 million of the Company's common stock from time to time, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements.

This newly authorized stock repurchase program replaces in its entirety the stock repurchase program authorized by the Company's Board of Directors in November 2012, which has been discontinued and had approximately $2.5 million of repurchase authority remaining. 

The timing and actual number of shares purchased under the new program will depend on a variety of factors, including market conditions, corporate and regulatory requirements, and alternative business and investment opportunities. The Company expects to fund repurchases under the program from available cash. The program does not require the Company to acquire any specific number of shares of common stock, and the program may be commenced, suspended or discontinued at any time or from time-to-time at the Company's discretion without prior notice. 

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Securities Litigation Reform act of 1995, including, among other things, statements regarding the expected source of funds for the new stock repurchase program. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) fluctuations and volatility in our stock price, (ii) the impact of macroeconomic conditions on customer demand, (iii) changes in our financial condition and (iv) changes in business opportunities and priorities that could cause us to consider alternative uses of cash. These forward-looking statements are based on current expectations and are subject to uncertainties and changes in condition, significance, value and effect as well as other risks detailed in documents filed with the Securities and Exchange Commission, including our most recent reports on Form 10-K and Form 10-Q and current reports on Form 8-K that we may file from time to time, which could cause actual results to vary from expectations. Cascade Microtech assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.

About Cascade Microtech, Inc.

Cascade Microtech, Inc. (NASDAQ: CSCD) is a worldwide leader in precision contact, electrical measurement and test of integrated circuits (ICs), optical devices and other small structures. For technology businesses and scientific institutions that need to evaluate small structures, Cascade Microtech delivers access to electrical data from wafers, ICs, IC packages, circuit boards and modules, MEMS, 3D TSV, LED devices and more. Cascade Microtech's leading-edge stations, probes, probe cards, advanced thermal subsystems and integrated systems deliver precision accuracy and superior performance both in the lab and during production manufacturing of high-speed and high-density semiconductor chips. For more information, visit www.cascademicrotech.com.

Contact Information

  • FOR MORE INFORMATION, CONTACT:

    Jeff A. Killian
    Cascade Microtech, Inc.
    (503) 601-1280