Comtech Telecommunications Corp. Announces New $100.0 Million Stock Repurchase Program
“Authorizing the use of our strong balance sheet for share repurchases demonstrates our confidence in the underlying value of our stock and our commitment to providing long-term value for our stockholders,” commented
Any repurchased shares will be available for various corporate purposes. There can be no assurance of how many shares will be repurchased, and the repurchase program may be suspended or discontinued at any time. The actual timing, number and value of shares repurchased under the program will depend on a number of factors, including general market and economic conditions, and applicable legal requirements. Purchases will be financed through the company’s cash balances.
The Company had approximately 24.9 million shares of common stock outstanding as of
Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. These risks and uncertainties include the risk that the Company may not be able, under the terms of its credit facility or otherwise, to repurchase shares of its common stock, as well as other risks and uncertainties identified in the Company's