Alliance Fiber Optic Products, Inc. Announces Increase to the Size of Stock Repurchase Program
November 20 2015 - 8:00AM
Alliance Fiber Optic Products, Inc. (Nasdaq:AFOP) today announced
that its board of directors has approved an increase to the size of
the current stock repurchase program, which was announced
previously on August 24, 2015 with the amount of twenty five
million dollars. The revised stock repurchase program will continue
purchasing up to thirty five million dollars of its outstanding
shares of Common Stock. The duration of the repurchase program is
open-ended.
Under the program, AFOP could purchase shares of Common Stock
from time to time through open market and privately negotiated
transactions at prices depending on prevailing market conditions
and other factors. The program does not obligate AFOP to repurchase
any particular amount of common stock during any period and the
program may be modified or suspended at any time at the Company's
discretion. The repurchase will be funded by cash on hand.
About AFOP
Founded in 1995, Alliance Fiber Optic Products, Inc. designs,
manufactures and markets a broad range of high performance fiber
optic components and integrated modules. AFOP's products are used
by leading and emerging communications equipment manufacturers to
deliver optical networking systems to the long-haul, enterprise,
metropolitan and last mile access segments of the communications
network. AFOP offers a broad product line of passive optical
components including interconnect systems, couplers and splitters,
thin film CWDM and DWDM components and modules, optical
attenuators, and micro-optics devices. AFOP is headquartered in
Sunnyvale, California, with manufacturing and product development
capabilities in the United States, Taiwan and China. AFOP's website
is located at http://www.afop.com.
CONTACT: Keting Lin, IR Associate
Alliance Fiber Optic Products, Inc.
408-736-6900 x188
Email: klin@afop.com
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