News Article
JDSU announces $100 million stock repurchase program
The company expects to invest in future growth and in strategic business development opportunities
JDSU's Board of Directors has authorised a program to repurchase up to $100 million of the company’s common stock through open market or private transactions until June 27th, 2015, the end of the Company’s fiscal year 2015.
JDSU had $926.2 million in total cash as of March 29th, 2014 and generated $58.3 million in free cash flow during the first nine months of fiscal year 2014. The timing of repurchases and the number of shares repurchased will depend upon business and financial market conditions.
“We have achieved thirty consecutive quarters of positive operating cash flow in varying macroeconomic and industry conditions,” states Tom Waechter, JDSU’s president and chief executive officer. “We believe our strong balance sheet and our expectations for future cash flow generation provide JDSU the flexibility to enhance shareholder value through share repurchases while continuing to invest in future growth and in strategic business development opportunities.”
JDSU had $926.2 million in total cash as of March 29th, 2014 and generated $58.3 million in free cash flow during the first nine months of fiscal year 2014. The timing of repurchases and the number of shares repurchased will depend upon business and financial market conditions.
“We have achieved thirty consecutive quarters of positive operating cash flow in varying macroeconomic and industry conditions,” states Tom Waechter, JDSU’s president and chief executive officer. “We believe our strong balance sheet and our expectations for future cash flow generation provide JDSU the flexibility to enhance shareholder value through share repurchases while continuing to invest in future growth and in strategic business development opportunities.”
