PORTLAND, Ore.--(BUSINESS WIRE)--Feb. 23, 2009--
Pixelworks, Inc. (NASDAQ:PXLW), an innovative provider of powerful video
and pixel processing technology, announced today that it has taken steps
to further strengthen its financial position with the repurchase of
On February 20, 2009, the Company repurchased approximately $27 million
principal amount of its outstanding 1.75% convertible subordinated
debentures at a purchase price of 65.5 percent of face value. This
follows repurchases of approximately $79.4 million of Pixelworks’
outstanding debentures in 2008. Pixelworks’ bond repurchases to date
have reduced the Company’s long-term debt from $140.0 million at the
beginning of 2008 to approximately $33.5 million.
About Pixelworks, Inc.
Pixelworks, headquartered in Portland, Oregon, is an innovative
designer, developer and marketer of video and pixel processing
technology semiconductors and software for high-end digital video
applications. At design centers in Shanghai and San Jose, Pixelworks
engineers push pixel performance to new levels for leading manufacturers
of consumer electronics and professional displays worldwide.
For more information, please visit the Company’s Web site at www.pixelworks.com.
Pixelworks® and the Pixelworks logo® are trademarks of Pixelworks, Inc.
Source: Pixelworks, Inc.
Steven Moore, 408-200-9221