Network Equipment Technologies Announces Stock Buy-Back Program
February 27 2008 - 4:03PM
Marketwired
FREMONT, CA today announced that its Board of Directors has
approved a stock buy-back program authorizing NET to purchase up to
$20 million of its common stock over the next two years. The
company may repurchase NET common stock in the open market at
prevailing market prices or in privately negotiated transactions
from time to time based upon market and business conditions. The
buy-back program may be suspended or discontinued at any time, and
will be funded using the company's available cash. The company's
cash balance, including investments, was $161 million as of
December 28, 2007.
About Network Equipment Technologies, Inc.
For nearly a quarter of a century, Network Equipment
Technologies, Inc. (NYSE: NWK) has provided voice and data
communications equipment for multi-service networks requiring high
degrees of versatility, interoperability, security and performance.
NET's broad family of products is purpose-built for mixed-service,
multi-protocol networks; bandwidth-sensitive site communications;
high-performance, security-sensitive transmissions; and converged
communications. The company's NX Series for network exchange
solutions and VX Series for voice exchange solutions enable
interoperability and integration with existing networks for
seamless migration to secure IP-based voice and data
communications. In addition, Quintum, a subsidiary of NET, delivers
VoIP access solutions that bring the reliability and voice clarity
of public telephone networks to Internet telephony.
Contact for Information: Network Equipment Technologies, Inc.
Leigh Salvo (510) 647-8870 Email Contact
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