SUWANEE, Ga., Nov. 1, 2012 /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 its Board of
Directors has authorized an additional $150
million in share repurchases of the Company's common stock.
The Company currently has $19.6
million available under its prior authorization for share
repurchase. Since 2008, the Company has repurchased 34.2 million
shares at an aggregate cost of $306.3
million.
"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 authorizing 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-K for the year ended December 31,
2011 and its Form 10-Q for the quarter ended June 30, 2012. 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 communications and IP technologies that support broadband
services for residential and business customers around the world.
The company supplies broadband operators with the tools and
platforms they need to deliver and monitor advanced video, data and
voice subscriber services, including whole home video across
multiple screens, ultra high-speed data, personalized advertising
and carrier-grade telephony. Headquartered near Atlanta, in Suwanee,
Georgia, USA, ARRIS has R&D centers in Beaverton, OR; Chicago, IL; Cork,
Ireland; Kirkland, WA;
Redwood City, CA; Shenzhen, China; State College, PA; Tel Aviv, Israel; Wallingford, CT and Westborough, MA, and operates support and
sales offices throughout the world. Information about ARRIS
products and services can be found at www.arrisi.com.
SOURCE ARRIS Group, Inc.