Anaren Increases Stock Buy Back Authorization
SYRACUSE, N.Y., Nov. 9, 2012 (GLOBE NEWSWIRE) -- Anaren, Inc. (ANEN) announced today that its Board of Directors has authorized the repurchase of up to an additional 1.5 million shares of the Company's outstanding common stock. This authorization is in addition to the approximately 40,000 shares remaining from the Board's previous authorization in May, 2012. Anaren intends to repurchase shares from time to time by means of open market purchases and privately negotiated transactions at prevailing market prices. The number of shares purchased, if any, will be dependent upon market conditions. Anaren currently has approximately 13,371,000 shares of common stock outstanding.
The statements contained in this news release which are not historical information are "forward-looking statements". These, and other forward-looking statements, are subject to business and economic risks and uncertainties that could cause actual results to differ materially from those discussed. If any business and economic risks and uncertainties actually occur, our business could be adversely affected, and the trading price of our common stock could decline, and you may lose all or part of your investment. You are encouraged to review Anaren's 2012 Annual Report, Anaren's Form 10-K for the fiscal year ended June 30, 2012 and exhibits to those Reports filed with the Securities and Exchange Commission to learn more about the various risks and uncertainties facing Anaren's business and their potential impact on Anaren's revenue, earnings and stock price. Unless required by law, Anaren disclaims any obligation to update or revise any forward-looking statement.
Anaren designs, manufactures and sells complex microwave components and subsystems for the wireless communications, satellite communications and defense electronics markets. For more information on Anaren's products, visit our Web site at www.anaren.com.
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CONTACT: George Blanton, CFO 315-362-0436 Joseph Porcello, VP-Accounting 315-362-0514
Source: Anaren, Inc. 2012 GlobeNewswire, Inc.