The Board of Directors of ClearOne (Salt Lake City UT) has authorized the repurchase of up to $10 million of the company’s outstanding shares of common stock. Under the program, repurchases may be made from time to time in open market or privately negotiated transactions depending on prevailing market conditions and other factors. The repurchase program may be suspended or discontinued at any time.
“This repurchase program demonstrates our confidence in ClearOne’s business and prospects, as well as our commitment to delivering shareholder value,” said Zee Hakimoglu, CEO/Chairman of ClearOne. “During 2015, we generated strong cash flow, ending the year with substantially higher cash, cash equivalents and investments and no debt.”