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EXHIBIT 99.1
Press Release
RADISYS ANNOUNCES BUYBACK OF CONVERTIBLE NOTES AND SHARES
HILLSBORO, Ore.--(BUSINESS WIRE)--Oct. 30, 2000--RadiSys Corporation
(Nasdaq:RSYS - news), a leading global designer and manufacturer of building
blocks enabling next-generation Internet and communications systems, announced
today that it has purchased $20 million principal amount of its 5 1/2%
convertible subordinated notes in a negotiated transaction with a third party.
The purchase of the notes resulted in an after-tax gain to the company of
approximately $3.3 million. The Company also announced that its board of
directors has authorized the repurchase of up to 5%, or 850,000, of its
outstanding shares. The Company intends to purchase shares of common stock in
the open market or through privately negotiated transactions over the next
several months, subject to market conditions. The open market purchase of shares
will commence immediately.
The Company believes the purchases of the notes and shares are consistent with
the Company's long-term goal of increasing shareholder value. The Company also
believes that the use of cash to make these purchases will have no impact on its
ability to fund currently anticipated investments in the business and to operate
its existing business.
RadiSys designs and manufactures building blocks for next-generation Internet,
communications, industrial automation, medical equipment, and transaction
terminal applications. As a leading independent provider to OEMs, RadiSys
delivers a time-to-market advantage in a tight "virtual division" relationship
with its customers. The building blocks include Intel-based embedded computers,
DSP modules and algorithms, network interfaces and protocols, systems platforms,
embedded software, systems engineering and integration services. RadiSys' highly
differentiated position in the market is a result of its intense focus on
Intel-based technology, having the broadest array of building blocks, and having
a "perfect fit" product development strategy using its intellectual property to
design customer subsystems.
RadiSys is a registered trademark. All other products are trademarks or
registered trademarks of their respective companies.
Except for the historical information contained herein, the matters discussed in
this press release, including the statements regarding RadiSys' ability to fund
currently anticipated investments in the business and to operate its existing
business, are forward-looking statements that involve risks and uncertainties.
The following are among the factors that could cause actual results to differ
materially: dependence on the relationship with Intel Corporation and its
products; lower than expected or delayed sales in the communications market;
lower than expected design wins with key OEMs; failure of leading OEMs to
incorporate RadiSys'
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solutions in successful products; deliveries of products containing errors,
defects and bugs; dependence on a limited number of suppliers or, in some cases,
one supplier for components and equipment used to manufacture products;
difficulties in integrating acquired businesses and assets; competition in the
embedded computer market, which may lead to pricing pressures; political,
economic and regulatory risks associated with international operations;
technological developments; the inability to protect RadiSys' intellectual
property or successfully to defend against infringement claims by others;
availability of qualified personnel; business conditions in the general economy
and in the markets RadiSys serves, particularly the communications market;
technological difficulties and resource constraints encountered in developing
new products; and difficulty or inability to meet obligations to repay
indebtedness. The forward-looking statements should be considered in light of
these factors.
For more information, contact RadiSys at [email protected] or call
the RadiSys Investor Line at 503/615-RSYS.
