Arris said it has wrapped up one share repurchase program and has authorized another round of stock buybacks.
The company concluded a $100 million share repurchase program, authorized three years ago, with the purchase in the second quarter of 2011 of 2.6 million shares of common stock for an aggregate consideration of $30.7 million.
And now on to the next round. Arris said its board 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.
