Kulicke And Soffa Industries To Buy Back Up To $100 Mln Of Shares

(RTTNews) - Kulicke and Soffa Industries, Inc. (KLIC) Wednesday said it intends to repurchase up to $100 million of the company's common shares, effective immediately. The program will be funded using the company's available cash.

The company said it may buy shares of its common stock through open market and privately negotiated transactions at prices deemed appropriate by management. The timing and amount of transaction will depend on market conditions as well as corporate and regulatory considerations.

Bruno Guilmart, Kulicke & Soffa's CEO said: "The board's primary goal in this new repurchase program is to deploy a portion of the cash balance to return value to our shareholders."