HUNTSVILLE, Ala.--(BUSINESS WIRE)--May 19, 2014--
ADTRAN, Inc. (NASDAQ:ADTN) announced that its Board of Directors has
authorized the repurchase of an additional 5,000,000 shares of the
Company’s common stock to commence upon completion of the repurchase
plan announced May 1, 2013. There are 1,200,233 shares remaining to be
repurchased under the May 2013 plan. Upon completion of the current
plan, the new plan will be implemented through open market or private
purchases from time to time as conditions warrant.
ADTRAN, Inc. is a leading global provider of networking and
communications equipment. ADTRAN’s products enable voice, data, video
and Internet communications across a variety of network infrastructures.
ADTRAN solutions are currently in use by service providers, private
enterprises, government organizations, and millions of individual users
worldwide. For more information, please visit www.adtran.com.
For more information, contact the company at 800 9ADTRAN (800 923-8726)
or via email at info@adtran.com. On
the Web, visit www.adtran.com.
This press release contains forward-looking statements which reflect
management’s best judgment based on factors currently known. However,
these statements involve risks and uncertainties, including the
successful development and market acceptance of new products, the degree
of competition in the market for such products, the product and channel
mix, component costs, manufacturing efficiencies, and other risks
detailed in our annual report on Form 10-K for the year ended December
31, 2013 and Form 10-Q for the quarter ended March 31, 2014. These risks
and uncertainties could cause actual results to differ materially from
those in the forward-looking statements included in this press release.
Source: ADTRAN, Inc.
ADTRAN, Inc.
Jim Matthews, 256-963-8775
Senior Vice
President/ CFO
or
Investor Services/Assistance:
Gayle
Ellis, 256-963-8220