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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date or Report (Date of Earliest Event Reported):
March 26, 1999
DATA TRANSLATION, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-21367 04-3332230
(State or other jurisdiction of (Commission File (I.R.S. Employer
Incorporation) Number) Identification No.)
100 LOCKE DRIVE, MARLBORO, MA 01752
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code:
508-481-3700
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ITEM 5. OTHER EVENTS
On March 26, 1999 the Registrant issued a press release announcing that its
Board of Directors has authorized the Company to repurchase up to $1,000,000 of
its shares of common stock over the remainder of the year. The timing and
amount of shares repurchased will be determined by the Company's management
based on its evaluation of the market and economic conditions. Reference is
made to the press release, a copy of which is filed as an exhibit to this
report.
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(C) Exhibits
Exhibit No.
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1 Press Release of the Registrant dated March 26, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 26, 1999 DATA TRANSLATION, INC.
/s/ Alfred A. Molinari, Jr.
By: Alfred A. Molinari, Jr.
President, Chief Executive Officer
and Assistant Secretary
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Exhibit 1 Description
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1 Press Release
For Immediate Release
Data Translation Announces Stock Buyback Plan
MARLBORO, MA, March 26, 1999--Data Translation, Inc. (NASDAQ: DATX)
announced today that its Board of Directors has approved the purchase of up to
$1,000,000 of its shares of common stock over the remainder of the year. The
purchases will be made on the open market from time to time. Purchases will be
made at prevailing prices as market conditions and cash availability permit.
Data Translation currently has 2,107,059 shares of common stock issued and
outstanding.
"This move reflects our confidence in the Company and is an effective
way to return value to our stockholders," said Fred Molinari, Data Translation's
Chairman, President and Chief Executive Officer. "Our last two quarters have
been profitable and we believe that we are well positioned for future success."
Mr. Molinari further noted that the Company has cash in excess of its operating
needs.
Data Translation, Inc. (NASDAQ:DATX-news) believes it is a world
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leader in the design, manufacture, and marketing of high performance Application
Video, multimedia, imaging and data acquisition systems. Founded in 1973 and
headquartered in Marlboro, Massachusetts, the company believes it is at the
forefront of the development of standards-based digital video editing and
playback systems that offer significant price and performance advantages over
competing products. More information is available on Data Translation's Web
site at http://www.datatranslation.com.
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Statements made herein which are not historical facts are forward
looking statements that involve certain risks and uncertainties that could cause
actual results to differ materially from those in such forward looking
statements. Potential risks and uncertainties include such factors as the
ability of the Company to meet its future capital requirements, the competitive
pricing environment of the Company's industry, consumer demand for and market
acceptance of the Company's products and other risks identified in documents
filed by the Company with the Securities and Exchange Commission.
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Contact:
Data Translation, Inc.
Susan Walsh, 508/481-3700, ext. 205
[email protected]
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http://www.datatranslation.com
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