GEORGE TOWN, Grand Cayman, Dec. 5, 2011 (GLOBE NEWSWIRE) -- O2Micro® International Limited (Nasdaq:OIIM) (the "Company") today announced that its Board of Directors has approved an additional $30 million under its current program to repurchase the Company's ordinary shares, including ordinary shares represented by American Depositary Shares. No date was established for the completion of the share repurchase program.
As of November 30, 2011, the company had approximately 33.07 million ADS shares outstanding. The repurchase program's terms have been structured to comply with Rule 10b-18 promulgated by the U.S. Securities and Exchange Commission, and the repurchase program is subject to market conditions and applicable legal requirements. Subject to applicable corporate securities laws, repurchases may be made at such times and in such amounts as the Company's management deems appropriate. Purchases under the program can be discontinued at any time the Company's management, in its discretion, feels additional purchases are not warranted. Purchases may be made under a Rule 10b5-1 plan during periods in which the Company may otherwise be prevented from purchasing under insider trading laws or self-imposed blackout periods. The company will finance the repurchase with existing cash reserves and funds from operations.
About O2Micro
Founded in April 1995, O2Micro develops and markets innovative power management and security components for the Computer, Consumer, Industrial, and Communications markets. Products include Intelligent Lighting, Battery Management, and Power Management.
O2Micro International maintains an extensive portfolio of intellectual property with approximately 17,633 patent claims granted, and over 18,000 more pending. The company maintains offices worldwide. Additional company and product information can be found on the company website at www.o2micro.com.
The O2Micro International Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6567
O2Micro, the O2Micro logo, and combinations thereof are registered trademarks of O2Micro. All other trademarks are the property of their respective owners.
Statements made in this release that are not historical, including statements regarding O2Micro's or management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. Factors that could cause actual results to differ materially include risks and uncertainties such as reduced demand for products of electronic equipment manufacturers which include O2Micro's products due to adverse economic conditions in general or specifically affecting O2Micro's markets, technical difficulties and delays in the developments process, and errors in the products. You are also referred to the Form F-1 in connection with the company's initial public offering in August 2000, Form F-3 in connection with the company's public offering in November 2001, and the annual reports on Form 20-F, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The company assumes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.