Alliance Fiber To Buyback $25 Ml. Stock

(RTTNews) - Alliance Fiber Optic Products Inc (AFOP) on Monday said its board has approved a stock repurchase program under which it will begin purchasing up to $25 million of its outstanding common shares. The duration of the repurchase program is open-ended.

"The combination of AFOP current market valuations, our strong cash balances and ongoing cash flow generation lead us to believe that this stock repurchase program is an appropriate use of cash," said CEO Peter Chang. "This program reaffirms our continued confidence in the company's near and long-term financial and operating performance, and our commitment to enhancing shareholder value."