QUEBEC CITY, Nov. 19, 2018 /CNW Telbec/ - EXFO Inc. (NASDAQ:
EXFO) (TSX: EXF) announced today that Germain Lamonde, founder and Executive Chairman,
and CEO Philippe Morin recently made
personal decisions related to their share ownership in EXFO.
Mr. Lamonde added to his majority ownership in EXFO by
purchasing 111,300 shares valued at approximately C$500,000 on the open market, thereby increasing
his position to 35.3 million shares, directly and indirectly.
Mr. Morin, whose 58,059 restricted share units in EXFO totaling
approximately C$225,850 vested
earlier this month, opted to hold onto his shares and pay the
related income tax charges. Mr. Morin had previously purchased
600,000 shares when named EXFO's CEO in April 2017.
"These latest decisions by Philippe and I signal our full
confidence in EXFO's growth strategy, management team and global
organization," Mr. Lamonde said.
About EXFO
EXFO (NASDAQ: EXFO) (TSX: EXF) develops
smarter test, monitoring and analytics solutions for fixed and
mobile network operators, webscale companies and equipment
manufacturers in the global communications industry. Our customers
count on us to deliver superior network performance, service
reliability and subscriber insights. They count on our unique blend
of equipment, software and services to accelerate digital
transformations related to fiber, 4G/LTE and 5G deployments. They
count on our expertise with automation, real-time troubleshooting
and big data analytics, which are critical to their business
performance. We've spent over 30 years earning this trust, and
today 1,900 EXFO employees in over 25 countries work side by side
with our customers in the lab, field, data center and beyond. For
more information, visit EXFO.com and follow us on the EXFO
Blog.
Forward-Looking Statements
This news release contains
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995, and we intend that such
forward-looking statements be subject to the safe harbors created
thereby. Forward-looking statements are statements other than
historical information or statements of current condition.
Words such as may, expect, believe, plan, anticipate, intend,
could, estimate, continue, or similar expressions or the negative
of such expressions are intended to identify forward-looking
statements. In addition, any statements that refer to
expectations, projections or other characterizations of future
events and circumstances are considered forward-looking statements.
They are not guarantees of future performance and involve risks
and uncertainties. Actual results may differ materially from
those in forward-looking statements due to various factors
including, but not limited to, macroeconomic uncertainty, including
trade wars; our ability to successfully integrate businesses that
we acquire; capital spending and network deployment levels in the
telecommunications industry (including our ability to quickly adapt
cost structures to anticipated levels of business and our ability
to manage inventory levels with market demand); future
economic, competitive, financial and market conditions;
consolidation in the global telecommunications test, service
assurance and analytics solutions markets and increased competition
among vendors; capacity to adapt our future product offering to
future technological changes; limited visibility with regard to the
timing and nature of customer orders; delay in revenue recognition
due to longer sales cycles for complex systems involving customers'
acceptance; fluctuating exchange rates; concentration of sales;
timely release and market acceptance of our new products and other
upcoming products; our ability to successfully expand international
operations and to conduct business internationally; and the
retention of key technical and management personnel.
Assumptions relating to the foregoing involve judgments and risks,
all of which are difficult or impossible to predict and many
of which are beyond our control. Other risk factors that may affect
our future performance and operations are detailed in our
Annual Report, on Form 20-F, and our other filings with the U.S.
Securities and Exchange Commission and the Canadian securities
commissions. We believe that the expectations reflected in the
forward-looking statements are reasonable based on information
currently available to us, but we cannot assure you that the
expectations will prove to have been correct. Accordingly,
you should not place undue reliance on these forward-looking
statements. These statements speak only as of the date of this
document. Unless required by law or applicable regulations, we
undertake no obligation to revise or update any of them to reflect
events or circumstances that occur after the date of this
document.
EXFO-C
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SOURCE EXFO Inc.