AUSTIN, Texas, Nov. 22, 2021 /PRNewswire/ -- Aviat Networks,
Inc. (NASDAQ: AVNW), the leading expert in wireless transport
solutions, today announced that its Board of Directors has
authorized a stock repurchase program. Under the program, Aviat
Networks may purchase up to $10 million of its
outstanding common stock. This program is in addition to our
previous $7.5 million stock buyback
program for which funds have been exhausted.
Under the stock repurchase program, the Company intends to
repurchase shares through authorized Rule 10b5-1 plans (which would
permit the Company to repurchase shares when the Company might
otherwise be precluded from doing so under insider trading laws),
open market purchases, privately negotiated transactions, block
purchases or otherwise in accordance with applicable federal
securities laws, including Rule 10b-18 of the Securities Exchange Act of
1934.
The Company may choose to suspend or discontinue the repurchase
program at any time. The repurchase program does not obligate the
Company to purchase any number of shares.
As of October 31, 2021, Aviat had 11.2 million shares of
common stock outstanding.
About Aviat Networks
Aviat Networks, Inc. is the
leading expert in wireless transport solutions and works to provide
dependable products, services and support to its customers. With
more than one million systems sold into 170 countries worldwide,
communications service providers and private network operators
including state/local government, utility, federal government and
defense organizations trust Aviat with their critical applications.
Coupled with a long history of microwave innovations, Aviat
provides a comprehensive suite of localized professional and
support services enabling customers to drastically simplify both
their networks and their lives. For more than 70 years, the experts
at Aviat have delivered high performance products, simplified
operations, and the best overall customer experience. Aviat
Networks is headquartered in Austin,
Texas. For more information, visit www.aviatnetworks.com or
connect with Aviat Networks on Twitter, Facebook and LinkedIn.
Media Contact: Gary Croke,
Aviat Networks, Inc., gary.croke@aviatnet.com
Investor Relations Contact: Keith
Fanneron, Aviat Networks, Inc., keith.fanneron@aviatnet.com
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SOURCE Aviat Networks, Inc.