UTStarcom Provides Update on Share Repurchase Program

UTStarcom, 11/01/12

Chinese network solutions provider UTStarcom (Nasdaq: UTSI) today provided an update on its monthly share repurchase activity under its ongoing USD 20 mln share repurchase program that was launched in August 2011.

During October 2012, the company repurchased USD 1.2 mln of its ordinary shares, bringing the cumulative total under the current program to approximately USD 14.2 mln, which represents 71% of the amount authorized by the Board. There is approximately USD 5.8 mln remaining under the current share repurchase program, which the Board extended through February 15, 2013.

Editor's Note: For more background on this topic, please see "UTStarcom Releases Update on Share Repurchase Program" MD 8/29/12 issue.

Keywords: telecom UTSI UTStarcom financing

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