Telular Corp., a provider of fixed wireless terminals for monitored alarm systems and more, says its board of directors has authorized the repurchase of up to 1 million shares of its common stock. The company has 12.9 million shares of common stock outstanding.
“We believe that our stock is undervalued and repurchasing it is a sound investment,” says Kenneth Millard, Telular chairman and CEO. “The Wireless Local Loop segment has experienced less negative impact by the meltdown in the telecommunications market than other segments. Further, because our products address a global marketplace, we believe that our segment will rebound early in the economic recovery of this industry.”
The company says the timing and amount of any repurchase will depend on the market conditions for its common stock, applicable legal requirements and other factors.
