Westell Technologies Announces Reactivation of Share Repurchase Program

Tue Oct 27, 2009 4:05pm EDT
 
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AURORA, Ill.--(Business Wire)--
Westell Technologies, Inc. (NASDAQ: WSTL), a leading provider of broadband
products, outside plant telecommunications equipment and conferencing services,
today announced its intention to reactivate its existing share repurchase
program. The company`s board of directors previously approved the repurchase of
up to an aggregate of $10 million of its Common Stock. Approximately $8.3
million remains available for repurchase under that authorization. 

Under the authorized repurchase program, any shares must be purchased on or
before March 3, 2010. The plan calls for the repurchases to be made in the open
market or through privately negotiated transactions. The timing and amount of
any share repurchases will depend upon share price, corporate and regulatory
requirements, economic and market conditions and other factors. The repurchase
authorization may be modified, suspended or discontinued at any time. 

"We are proud of Westell`s recent performance, and, at this time, we believe
that repurchases of our shares are a good use of cash," said Rick Gilbert,
Chairman and Chief Executive Officer. "We remain focused on maintaining
Westell`s profitability and positive cash flow, and on increasing shareholder
value for the long term." 

About Westell

Westell Technologies, Inc., headquartered in Aurora, Illinois, is a holding
company for Westell, Inc. and ConferencePlus, Inc. Westell, Inc. designs,
distributes, markets and services a broad range of broadband customer premises
equipment, digital transmission, remote monitoring, power distribution and
demarcation products used by telephone companies and other telecommunications
service providers. ConferencePlus, Inc. is a leading global provider of audio,
web, video and IP conferencing services. Additional information can be obtained
by visiting http://www.westell.com and http://www.conferenceplus.com. 

"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995:

Certain statements contained herein that are not historical facts or that
contain the words "believe", "expect", "intend", "anticipate", "estimate",
"may", "will", "plan", "should", or derivatives thereof and other words of
similar meaning are forward-looking statements that involve risks and
uncertainties. Actual results may differ materially from those expressed in or
implied by such forward-looking statements. Factors that could cause actual
results to differ materially include, but are not limited to, product demand and
market acceptance risks, need for financing, economic weakness in the United
States economy and telecommunications market, the impact of competitive products
or technologies, competitive pricing pressures, product cost increases, new
product development, excess and obsolete inventory, commercialization and
technological delays or difficulties (including delays or difficulties in
developing, producing, testing and selling new products and technologies), the
effect of Westell`s accounting policies, the need for additional capital, the
effect of economic conditions and trade, legal social and economic risks (such
as import, licensing and trade restrictions), retention of key personnel and
other risks more fully described in the Company`s Form 10-K for the fiscal year
ended March 31, 2009 under the section entitled Risk Factors and in other SEC
filings. The Company undertakes no obligation to publicly update these
forward-looking statements to reflect current events or circumstances after the
date hereof, or to reflect the occurrence of unanticipated events, or
otherwise.

Investors / Trade / Media
Westell Technologies, Inc.
Brian Cooper
Chief Financial Officer
630.375.4740
BCooper@westell.com



Copyright Business Wire 2009

 

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