VANCOUVER, CANADA -- April 15, 2002 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today announced it will release its unaudited first quarter results for the period ended March 31, 2002 before the market opens on Monday, May 6, 2002.
The Company will hold a conference call on Monday, May 6, 2002 @ 10:00 a.m. Eastern Time for analysts to discuss the first quarter results with management. Analysts who wish to receive the toll free dial-in number for this conference call are invited to contact the Investor Relations Office at 1-800-661-8831 no later than 6:00 p.m. Eastern Time on Friday, May 3, 2002.
Shareholders, media, and interested investors are invited to listen to the live conference call by dialing (612) 332-0632 or on the internet at http://www.videonewswire.com/event.asp?id=4132.
On October 1, 2001 the Company announced a stock repurchase program to buy-back up to an aggregate of two million common shares in the open market from time to time at prevailing market prices in accordance with SEC Rule 10b-18. As at March 31, 2002 the Company repurchased 273,300 of its common shares at an average cost of $18.25. Under the current stock market conditions, the Company does not expect to repurchase further shares under the existing repurchase program.
The Company will pay its first quarter dividend of $0.12 per share on or before April 21, 2002 to shareholders of record at the close of business on April 1, 2002.
Annual General Meeting
The Company will hold its Annual Shareholders’ Meeting on Friday, June 14, 2002 at 11:30 a.m. at The Peninsula Beverly Hills, 9882 South Santa Monica Boulevard, Beverly Hills, California. The record date for voting is May 1, 2002.
Nam Tai Electronics, Inc. is an electronics design and manufacturing service provider to some of the world’s leading original equipment manufacturers. Nam Tai manufactures telecommunication products, palm-sized PCs, personal digital assistants, linguistic products, calculators and various components including LCD modules for cellular phones, lithium ion rechargeable battery packs, transformers and LCD panels. The Company utilises advanced production technologies such as chip on board (COB), chip on glass (COG), chip on film (COF), surface mount technology (SMT), ball grid array (BGA), tape automated bonding (TAB), and outer lead bonding (OLB) technologies. Further information is available on Nam Tai’s web site at www.namtai.com.