ADTRAN, Inc. Announces Additional Five Million Share Repurchase Plan
HUNTSVILLE, Ala. -- May 1, 2013
ADTRAN, Inc. (NASDAQ:ADTN) announced that its Board of Directors has
authorized the repurchase of an additional 5,000,000 shares of the Company’s
common stock to commence upon completion of the repurchase plan announced Oct.
11, 2011. There are 506,538 shares remaining to be repurchased under the
October 2011 plan. Upon completion of the current plan, the new plan will be
implemented through open market or private purchases from time to time as
ADTRAN, Inc. is a leading global provider of networking and communications
equipment. ADTRAN’s products enable voice, data, video and Internet
communications across a variety of network infrastructures. ADTRAN solutions
are currently in use by service providers, private enterprises, government
organizations, and millions of individual users worldwide. For more
information, please visit www.adtran.com.
For more information, contact the company at 800 9ADTRAN (800 923-8726) or via
email at email@example.com. On the Web, visit www.adtran.com.
This press release contains forward-looking statements which reflect
management’s best judgment based on factors currently known. However, these
statements involve risks and uncertainties, including the successful
development and market acceptance of new products, the degree of competition
in the market for such products, the product and channel mix, component costs,
manufacturing efficiencies, and other risks detailed in our annual report on
Form 10-K for the year ended December 31, 2012. These risks and uncertainties
could cause actual results to differ materially from those in the
forward-looking statements included in this press release.
Jim Matthews, 256-963-8775
Senior Vice President/CFO
Gayle Ellis, 256-963-8220
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