New Focus announces stock repurchase program
New Focus, Inc. (Nasdaq: NUFO), a supplier of fiber-optic products for next-generation optical networks under the Smart Optics for Networks brand, announced that the company has been authorized by its board of directors to institute a stock repurchase program whereby up to 5,000,000 shares of its common stock may be repurchased in the open market from time to time.
The repurchases are expected to reduce the long-term potential dilution that might result from issuances under the company's stock benefit plans.
About New Focus:
New Focus designs, manufactures and markets fiber-optic products for next-generation optical networks. For more information, visit www.newfocus.com.