Advanced Energy Announces $75 Million Share Repurchase Authorization
December 27 2007 - 8:30AM
PR Newswire (US)
FORT COLLINS, Colo., Dec. 27 /PRNewswire-FirstCall/ -- Advanced
Energy Industries, Inc. (NASDAQ:AEIS) today announced that the
Board of Directors has authorized the company to repurchase up to
$75 million of its common stock over the next twelve months.
Purchases under the program may be made from time-to-time in the
open market, through privately negotiated transactions, through
block trades, Rule 10b5-1 trading plans or other available means.
There is no minimum number of shares to be repurchased under the
program and the program may be discontinued at any time. As of
September 30, 2007, the company had approximately $185 million in
cash, cash equivalents and marketable securities and approximately
45.3 million common shares outstanding. About Advanced Energy
Advanced Energy(R) develops innovative power and control
technologies that enable high-growth, plasma thin-film
manufacturing processes worldwide, including semiconductors, flat
panel displays, data storage products, solar cells, architectural
glass, and other advanced product applications. Advanced Energy(R)
also develops grid connect inverters for the solar energy market.
This press release contains forward looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, including statements
about the company's implementation of its stock repurchase program.
Forward-looking statements are subject to known and unknown risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements. Such
risks and uncertainties include the fact that there is no minimum
number of shares that may be repurchased under the stock repurchase
program and that the company may discontinue the repurchase program
at any time. Further, any purchases under the program will depend
upon the availability of cash, as well as prevailing general
economic and stock market conditions. Risks related to the company
are described in Advanced Energy's Form 10-K, Forms 10-Q and other
reports and statements filed with the Securities and Exchange
Commission. Forward-looking statements are made and based on
information available to the company on the date of this press
release. The company assumes no obligation to update the
information in this press release.
http://www.newscom.com/cgi-bin/prnh/20030825/AEISLOGO
http://photoarchive.ap.org/ DATASOURCE: Advanced Energy Industries,
Inc. CONTACT: Lawrence D. Firestone, +1-970-407-6570, , or Annie
Leschin or Brooke Deterline, +1-970-407-6555, , all of Advanced
Energy Industries, Inc. Web site: http://www.advanced-energy.com/
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