Harmonic Announces $25 Million Stock Buyback Program

Posted by Joe Zaller
Apr 26 2012

Harmonic said that its board of directors has approved a program to repurchase of up to $25m of its stock.

The program authorizes the purchase of $25m of the company`s common stock through open market transactions, at times and in such amounts as management deems appropriate, subject to certain pre-determined price/volume guidelines set, from time to time, by the board of directors. The timing and actual number of shares repurchased will depend on a variety of factors, including price, corporate and regulatory requirements, strategic priorities, and other market conditions. The stock repurchase program expires in 18 months and may be limited or terminated at any time before the end of the period without any prior notice. The purchases will be funded from available working capital.

Harmonic held $168.5m in cash and investments as of March 30, 2012.

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