Attached files
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| 8-K - FORM 8-K - INSIGNIA SYSTEMS INC/MN | isig_form8k20180405.htm |
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Contact:
Insignia Systems,
Inc.
Investor
Relations
(763)
392-6200
|
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
INSIGNIA SYSTEMS, INC. ANNOUNCES STOCK REPURCHASE
PROGRAM
MINNEAPOLIS, MN – April 5, 2018 – Insignia Systems, Inc. (Nasdaq: ISIG)
(“Insignia” or “the Company”)
announced today that the
Company’s Board of Directors approved a stock repurchase
program authorizing the Company to repurchase up to $3,000,000 of
the Company’s common stock. The announcement reflects the
Board’s confidence in management’s ability to continue
to profitably grow and transform the business and its desire to
return value to shareholders. The Company will fund repurchases
through cash on hand and future cash flow from
operations.
The program replaces the Company’s prior stock repurchase
authorization, which expired on October 30, 2017 and under which
the Company repurchased approximately 134,000 shares. The new
program provides that shares may be purchased from time to time on
the open market or in privately negotiated transactions until March
31, 2020. The program does not obligate the Company to acquire any
particular amount of common stock, and purchases may be commenced,
suspended or discontinued at any time at its
discretion.
About Insignia Systems, Inc.
Insignia Systems, Inc. markets in-store advertising products,
programs and services primarily to both consumer packaged goods
manufacturers and retailers. Insignia provides at-shelf media
solutions in over 21,000 retail outlets, inclusive of grocery, mass
merchants and dollar. We partner with over 300 consumer packaged
goods manufacturers across various categories including center
store, refrigerated, frozen and the perimeter. For additional
information, contact (800) 874-4648, or visit the Insignia website
at www.insigniasystems.com.
Investor inquiries can be submitted to investorrelations@insigniasystems.com.
Cautionary Statement for the Purpose of Safe Harbor Provisions of
the Private Securities Litigation Reform Act of 1995
Statements in this press release that are not statements of
historical or current facts are considered forward-looking
statements within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995, as amended. The
words “anticipates,” “expects,”
“seeks,” “will” and similar expressions
identify forward-looking statements. Readers are cautioned not to
place undue reliance on these or any forward-looking statements,
which speak only as of the date of this press release. Statements
made in this press release regarding, for instance, anticipated
future profitability, growth and transformation of the
Company’s business, are forward-looking statements. These
forward-looking statements are based on current information, which
we have assessed and which by its nature is dynamic and subject to
rapid and even abrupt changes. As such, actual results may differ
materially from the results or performance expressed or implied by
such forward-looking statements. Forward-looking statements involve
known and unknown risks, uncertainties and other factors, including
those set forth in our Annual Report on Form 10-K for the year
ended December 31, 2017 and additional risks, if any, identified in
our Quarterly Reports on Form 10-Q and our Current Reports on Forms
8-K filed with the SEC. Such forward-looking statements should be
read in conjunction with the company's filings with the SEC.
Insignia assumes no responsibility to update the forward-looking
statements contained in this press release or the reasons why
actual results would differ from those anticipated in any such
forward-looking statement, other than as required by
law.