Contact Information: Contact: Jack Eversull The Eversull Group 972-378-7917 972-378-7981 (fax) E-mail: Web Site: www.atsi.net
ATSI Board of Directors Approve Share Repurchase Program
| Source: ATSI Communications
SAN ANTONIO, TX--(Marketwire - April 16, 2008) - ATSI Communications, Inc. (OTCBB : ATSX )
today announced that its Board of Directors approved a share buyback plan
allowing the Company to purchase up to $1 million of ATSI's common stock.
The shares will be bought through the open market through December 31, 2008
based on price and market conditions.
Arthur L. Smith, CEO of ATSI, commented, "We believe our stock is
considerably undervalued and feel this is an appropriate action that
demonstrates our resolve to improve the long-term value of our Company. We
are launching our first corporate buyback plan during a period of record
financial performance for the Company that includes exceeding our projected
cash flow from operations. Using excess cash to buyback our stock is a
prudent move that we expect will yield excellent returns for the Company
and its shareholders."
ATSI Communications, Inc. operates through its two wholly owned
subsidiaries, Digerati Networks, Inc. and Telefamilia Communications, Inc.
Digerati Networks, Inc. is a premier global VoIP carrier serving rapidly
expanding markets in Asia, Europe, the Middle East, and Latin America, with
an emphasis on Mexico. Through Digerati's partnerships with established
foreign carriers and network operators, interconnection and service
agreements, and a NextPoint powered VoIP network, ATSI believes it has
clear advantages over its competition. Telefamilia Communications provides
specialized retail communication services that includes VoIP services to
the high-growth Hispanic market in the United States. ATSI also owns a
minority interest of a subsidiary in Mexico, ATSI Comunicaciones, S.A. de
C.V., which operates under a 30-year government issued telecommunications
license.
The information in this news release includes certain forward-looking
statements that are based upon management's expectations and assumptions
about certain risks and uncertainties that can affect future events.
Although management believes these assumptions and expectations to be
reasonable on the date of this news release, these risks and uncertainties
may cause actual events to differ material from managements those contained
in this news release. The risks and uncertainties include, but are not
limited to, continuing as a going concern, availability and cost of our
present vendors and suppliers, and absence of any change in government
regulations or other costs associated with data transmission over the
Internet or termination of transmissions in foreign countries.