ARRIS Announces Share Repurchase Program Tuesday February 19, 8:08 am ET
SUWANEE, Ga., Feb. 19 /PRNewswire-FirstCall/ -- ARRIS Group, Inc. (Nasdaq: ARRS - News), a global technology leader in the development of advanced cable telephony, next generation high-speed data, demand driven video solutions, operations software and broadband access equipment, today announced that its Board of Directors has authorized the repurchase of up to $100 million of the Company's common stock. Shares will be repurchased in the open market or through block purchases at times and prices considered appropriate by the Company. The timing of any purchases and the exact number of shares to be purchased will depend on market conditions. ADVERTISEMENT
"We consider a repurchase of our shares to be a sound investment for our Company," said Bob Stanzione, ARRIS Chairman & CEO. "The repurchase authorization by our Board of Directors reflects our strong confidence in the markets that we serve, in the future of ARRIS and also demonstrates our continuing commitment to pursuing opportunities to create shareholder value."
ARRIS is a global communications technology company specializing in the design, engineering and supply of technology supporting triple and quad-play broadband services for residential and business customers around the world. The company supplies broadband operators with the tools and platforms they need to deliver reliable telephony, demand driven video, next-generation advertising and high-speed data services. ARRIS products expand and help grow network capacity with access and outside plant construction equipment, reliably deliver voice, video and data services and assure optimal service delivery for end customers. Headquartered in Suwanee, Georgia, USA, ARRIS has R&D centers in Atlanta, Chicago, Beaverton, State College, Wallingford, Ireland and China, and operates support and sales offices throughout the world. Information about ARRIS products and services can be found at http://www.arrisi.com .
Statements made in this press release regarding the Company's share repurchase program are forward-looking statements. These statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. Among other things, sufficient share may not be available at appropriate prices, alternative uses may develop for the Company's funds, and market and other conditions may change. These factors are not intended to be an all-encompassing list of applicable risks and uncertainties. Additional information regarding these and other factors can be found in ARRIS' reports filed with the Securities and Exchange Commission, including its Form 10-Q for the quarter ended September 30, 2007. In providing forward-looking statements, the Company expressly disclaims any obligation to update publicly or otherwise these statements, whether as a result of new information, future events or otherwise.
-------------------------------------------------------------------------------- Source: ARRIS Group, Inc.
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