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Sigma Announces Share Repurchase Program
AM MILPITAS, Calif., Feb 27, 2008 (BUSINESS WIRE) -- Sigma Designs
(SIGM), a leader in digital media processor SoC's for consumer
electronics, today announced that its board of directors has approved a
share repurchase program that authorizes Sigma to repurchase up to 2
million shares of Sigma's common stock. "We believe a repurchase
program is an attractive use of our cash and underscores our belief in
the long-term value of our stock as well as our commitment to deliver
shareholder value," said Thinh Tran, Sigma's President and Chief
Executive Officer. "At our current trading levels, our board of
directors believes that Sigma stock presents an attractive investment
for the Company and its shareholders. We are confident that we can
continue to invest in the research and development initiatives that are
key to our future success and enhance the value of our company by
repurchasing common stock under this program." The amount and timing of
specific repurchases are subject to market conditions, applicable legal
requirements and other factors, including management's discretion.
Repurchases may be conducted in the open market or in privately
negotiated transactions and the repurchase program may be modified,
extended or terminated by the board of directors at any time. There is
no guarantee as to the exact number of shares that will be repurchased
under the program. The repurchases will be funded from available working
capital. Safe Harbor Statement This press release may contain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934, including statements about the anticipated repurchase of Sigma
common stock, the administration of the stock repurchase program, the
long-term value of Sigma stock and the ability to invest in research and
development initiatives. Actual results could vary from those projected
in the forward looking statements as a result of various factors,
including the rate of growth of the IPTV, high definition DVD and HDTV
markets, the ramp in demand from our set-top box and telecommunication
customers, our ability to deploy and achieve market acceptance for Sigma
products in these markets, the ability of our SoCs to compete with other
technologies or products in these emerging markets, and other risks that
are detailed from time to time in our SEC reports, including our
quarterly report on Form 10-Q as filed December 13, 2007. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. Sigma undertakes no
obligation to publicly release or otherwise disclose the result of any
revision to these forward-looking statements that may be made as a
result of events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events. About Sigma Designs, Inc. Sigma
Designs is a leading fabless provider of highly integrated
system-on-chip, or SoC, solutions that are used to deliver multimedia
entertainment throughout the home. Sigma's SoC solutions combine its
semiconductors and software and are a critical component of multiple
high-growth, consumer applications that process digital video and audio
content, including internet protocol TV, or IPTV, high definition DVD
players, high definition TVs, or HDTVs and portable media players.
Headquartered in Milpitas, Calif., Sigma Designs also has sales
representatives in the United States, Belgium, China, Japan and Taiwan
and sells its products through a third-party distributor in Korea. For
more information, please visit Sigma Designs' web site at . SOURCE:
Sigma Designs, Inc. Sigma Designs, Inc.Ed McGregor,
646-259-2999IR@ sdesigns. com Copyright Business Wire 2008
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