SUWANEE, Ga., May 26, 2011 /PRNewswire/ -- 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 it has completed
its existing share repurchase program with the purchase in the
second quarter 2011 of 2.6 million shares of common stock for an
aggregate consideration of $30.7
million.
Additionally, the Company also announced that the ARRIS Board of
Directors has authorized a new $150
million share repurchase program.
"As a result of our fundamental belief in the long-term success
of the Company, as well as our continued commitment to enhance
shareholder value, we concluded that completing our existing share
repurchase program and implementing a new program is in the best
interest of our shareholders," said Bob
Stanzione, ARRIS Chairman and CEO.
Statements made in this press release regarding the Company's
share repurchase program and future outlook 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 shares 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 March 31,
2011. 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.
About ARRIS
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
carrier-grade telephony, network video processing, whole home
video, demand driven video, next-generation advertising, network
and workforce management solutions, access and transport
architectures and ultra high-speed data services. Headquartered in
Suwanee, Georgia, USA, ARRIS has
R&D centers in Suwanee;
Beaverton, OR; Chicago, IL; Kirkland, WA; State
College, PA; Wallingford,
CT; Waltham, MA;
Cork, Ireland; and Shenzhen, China, and operates support and
sales offices throughout the world. Information about ARRIS
products and services can be found at www.arrisi.com.
SOURCE ARRIS