29 May 2014

JDSU announces $100m stock repurchase program

Optoelectronic chip and module maker JDSU of Milpitas, CA, USA says that its board of directors has authorized a program to repurchase up to $100m of the firm’s common stock through open market or private transactions between now and 27 June 2015 (the end of fiscal 2015).

JDSU generated $58.3m in free cash flow during the first nine months of fiscal 2014. As of 29 March, it had $926.2m in total cash.

“We have achieved 30 consecutive quarters of positive operating cash flow in varying macroeconomic and industry conditions,” says president & CEO Tom Waechter. “Our strong balance sheet and our expectations for future cash flow generation provide JDSU the flexibility to enhance shareholder value through share repurchases while continuing to invest in future growth and in strategic business development opportunities,” he adds.

The timing of repurchases and the number of shares repurchased will depend upon business and financial market conditions.

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JDSU’s private offering raises $636m

Tags: JDSU Optical communications

Visit: www.jdsu.com