Illumina Announces New $100 Million Share Repurchase Authorization
August 03 2011 - 6:30AM
Business Wire
Illumina (Nasdaq:ILMN) today announced that on August 1, 2011,
its Board of Directors authorized the Company to repurchase, on a
discretionary basis, up to $100 million of its outstanding common
shares in the open market or in privately negotiated transactions,
subject to market conditions and other factors. The previous
discretionary $100 million share repurchase program authorized in
July 2010 was completed this week.
“We believe that the repurchase of our common stock represents
an effective use of our capital and underscores our commitment to
maximize value for our shareholders,” said Illumina’s Christian
Henry, Senior Vice President, General Manager of Life Sciences and
Chief Financial Officer. “Since 2008, we have bought over 12
million shares of our common stock through prior authorizations,
returning nearly $450 million to shareholders. Through the Board’s
new authorization, we expect to continue our share repurchase
programs.”
About Illumina
Illumina (http://www.illumina.com) is a leading developer,
manufacturer, and marketer of life science tools and integrated
systems for the analysis of genetic variation and function. We
provide innovative sequencing and array-based solutions for
genotyping, copy number variation analysis, methylation studies,
gene expression profiling, and low-multiplex analysis of DNA, RNA,
and protein. We also provide tools and services that are fueling
advances in consumer genomics and diagnostics. Our technology and
products accelerate genetic analysis research and its application,
paving the way for molecular medicine and ultimately transforming
healthcare.
Forward-Looking Statements
This release contains forward-looking statements that involve
risks and uncertainties, including statements we make regarding
future discretionary share repurchases. Important factors that
could cause actual results to differ materially from those in any
forward-looking statements are detailed in our filings with the
Securities and Exchange Commission, including our most recent
filings on Forms 10-K and 10-Q, or in information disclosed in
public conference calls, the date and time of which are released
beforehand. We do not intend to update any forward-looking
statements after the date of this release.
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