ClearOne to Repurchase Stock
Wednesday October 2, 2:30 pm ET
SALT LAKE CITY, Oct. 2 -- The board of directors of ClearOne Communications Inc. (Nasdaq: CLRO - News) today authorized the repurchase of up to 1 million shares of the company's common stock over the next 12 months. Purchases will be made on the open market and in block transactions.
"ClearOne's stock is currently trading at levels that we believe are significantly below fair market value," said Fran Flood, president and chief executive officer of ClearOne.
ClearOne Communications is a provider of multimedia conferencing products and services that bring geographically dispersed people together-compressing time and distance. Product offerings include audio and video conferencing systems, peripherals and furniture. Service offerings include a full suite of audio, video and data conferencing services, and business services such as training, field support, help desk, and system consulting. Additional information is available at www.clearone.com.
To the extent any statement presented herein deals with information that is not historical, including the company's repurchase of common stock, such statement is necessarily forward-looking and made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. As such, it is subject to the occurrence of many events outside ClearOne's control that could cause ClearOne's results to differ materially from those anticipated. Please see the risk factors contained in ClearOne's most recent SEC filings, including its annual report on Form 10-K and quarterly reports on Form 10-Q.
For further information, please contact Bryce Benson, Investor/Media Relations of ClearOne Communications Inc., +1-801-974-3786, or +1-800-945-7730, or fax, +1-801-977-0087, bryce.benson@clearone.com. |
