Cree Extends and Increases Stock Repurchase Program
Source/Type: Compound Semiconductors Online - Reported News

Author: LiGHTimes Staff

May 15, 2008... Cree Inc. of Durham, North Carolina USA, approved the extension of the company’s stock repurchase program. The company’s board of directors voted to approve the extension of the stock repurchase program through the fiscal year ending June 28, 2009. Cree reports that as of May 15, 2008, the company is authorized to repurchase up to 5 million shares total. According to the company, it has purchased 1,567,500 shares during the current quarter.

Cree said it expects to use available cash to finance purchases under the program. Cree points out that the program can be implemented through open market or privately negotiated transactions at the discretion of the company's management. The company said it will continue to evaluate market conditions and other factors to determine the time and extent of any repurchases. Company News Release

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