ARRIS Announces Share Repurchase Program
February 19 2008 - 8:08AM
PR Newswire (US)
SUWANEE, Ga., Feb. 19 /PRNewswire-FirstCall/ -- ARRIS Group, Inc.
(NASDAQ:ARRS), 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. "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. DATASOURCE: ARRIS Group,
Inc. CONTACT: Jim Bauer, Investor Relations of ARRIS Group, Inc.,
+1-678-473-2647, Web site: http://www.arrisi.com/
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