Press Release
PLX TECHNOLOGY ANNOUNCES INCREASE TO SHARE-REPURCHASE PROGRAM
SUNNYVALE, Calif. -- July 15, 2008 -- PLX Technology, Inc. (NASDAQ: PLXT) today announced that 2,000,000 shares have been added to the stock repurchase program approved by the Company's Board of Directors in January 2001 and increased in September 2002. In January 2001, the PLX® Board of Directors authorized the repurchase of 2,000,000 shares as part of a stock repurchase program whereby common stock may be purchased in the open market or in privately negotiated transactions from time to time as market and business conditions warrant. In September 2002, the Board of Directors authorized an additional 2,000,000 shares under the repurchase program. Through July 14, 2008, PLX has repurchased a total of 3,719,000 shares under the repurchase plan, including 319,000 shares repurchased in the second and third calendar quarters of 2008.
With the 281,000 remaining repurchase capacity under the 2002 authorization and the 2,000,000 shares added to the program by the Board of Directors today, PLX has the capacity to repurchase up to 2,281,000 shares.
About PLX
PLX Technology, Inc. (www.plxtech.com), based in Sunnyvale, Calif., USA, is the world's leading supplier of PCI Express and other standard I/O interconnect semiconductors to the communications, server, storage, embedded-control, and consumer markets. The company provides a competitive advantage through an integrated combination of experience, high-performance silicon, hardware and software design tools, and global partnerships. These innovative solutions enable our customers to develop equipment with industry-leading performance, scalability and reliability that allows them to bring designs to market faster.
PLX and the PLX logo are trademarks of PLX Technology, Inc., which may be registered in some jurisdictions. All other product names that appear in this material are for identification purposes only and are acknowledged to be trademarks or registered trademarks of their respective companies.
Editorial contact:
Jerry Steach
CommonGround Communications (for PLX)
415.222.9996
jsteach@plxtech.com
Company contact:
Arthur Whipple, CFO
PLX Technology
408.774.9060
investor-relations@plxtech.com