Westell Announces Authorization of a New $2 Million Stock Repurchase Program
May 17 2017 - 9:01AM
Westell Technologies, Inc. (NASDAQ:WSTL), a leading provider
of high-performance wireless infrastructure solutions, announced
that its Board of Directors has authorized a new stock repurchase
program of up to $2 million of its Class A common stock.
“Westell’s strong balance sheet and the success
of our recent expense structure reset enables us to return value to
stockholders through stock repurchases. At the same time, we
can continue investing in new growth opportunities, such as the
emerging in-building wireless public safety communication market,”
said Tom Minichiello, Senior Vice President and Chief Financial
Officer. “Westell’s management team and Board of Directors believes
in our long-term prospects and is committed to efficient capital
deployment as demonstrated by this new authorization.”
The timing and amount of stock repurchases will
be determined by management at its discretion and will depend on a
number of factors including market conditions, regulatory
requirements, and other factors. The program calls for the
repurchases to be made in the open market or through privately
negotiated transactions.
There is no guarantee as to the amount of stock
that will be repurchased, and the repurchase program may be
extended, suspended, or discontinued at Westell’s discretion at any
time without notice.
The Company’s previously approved stock repurchase program
remains in effect. That program has approximately $113,000 of
remaining availability.
To be added to the Westell email distribution
list, please email marketing@westell.com.
About Westell
TechnologiesWestell is a leading provider of
high-performance wireless infrastructure solutions focused on
innovation and differentiation at the edge of communication
networks where end users connect. The Company's portfolio of
products and solutions enables service providers and network
operators to improve performance and reduce operating
expenses. With millions of products successfully deployed
worldwide, Westell is a trusted partner for transforming networks
into high-quality reliable systems. For more information,
please visit westell.com.
Twitter - Company: @Westell_Tech
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Company undertakes no obligation to publicly update these
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Westell Investor Relations Contact
Tom Minichiello
Senior Vice President, Chief Financial Officer, Treasurer, and Secretary
Westell Technologies
630-375-4740
tminichiello@westell.com
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