PCTEL announced that the board of directors terminated the company’s previously announced share repurchase program.

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“Given the uncertainty surrounding the COVID-19 virus and its impact on economic and market conditions, the board determined that it is prudent to terminate the share repurchase program,” said PCTEL CEO David Neumann. “Maintaining our strong balance sheet will allow PCTEL flexibility to address the unique and evolving challenges presented by the COVID-19 situation.”

The company has also terminated a plan that was in place to facilitate market repurchases.

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