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New Focus Announces Stock Repurchase Program
September 20, 2001 08:30:00 (ET)
SAN JOSE, Calif., Sep 20, 2001 /PRNewswire via COMTEX/ -- New Focus, Inc. (NUFO, Trade), a leading supplier of innovative fiber-optic products for next-generation optical networks under the Smart Optics for Networks(TM) brand, today announced that the company has been authorized by its board of directors to institute a stock repurchase program whereby up to 5,000,000 shares of its common stock may be repurchased in the open market from time to time.
"Our board of directors felt that an investment in our own stock would be beneficial to the company and its stockholders," said Ken Westrick, president and chief executive officer of New Focus, Inc. He further noted that the repurchases will reduce the long-term potential dilution that might result from issuances under the company's stock benefit plans.
About New Focus:
New Focus designs, manufactures and markets innovative fiber-optic products for next-generation optical networks. The company's Smart Optics for Networks(TM) products enhance the performance of next-generation optical networks by enabling higher channel counts, faster data rates, longer reach lengths, new service capabilities, and lower costs of ownership. Founded in 1990, the company remains a leader in the creation of advanced optical products for the commercial and research marketplaces. The company is headquartered in San Jose, California and has operations in Camarillo, California, Madison, Wisconsin, and Shenzhen, People's Republic of China.
For more information about New Focus visit the company's Internet home page at newfocus.com , call our Investors Relations Department at 408-284-NUFO, or e-mail us at investor@newfocus.com. MAKE YOUR OPINION COUNT - Click Here tbutton.prnewswire.com
SOURCE New Focus, Inc. CONTACT: William L. Potts, Jr., Chief Financial Officer of New Focus, Inc., +1-408-284-5184 URL: newfocus.com |
