Ultratech Announces Up To $100 Mln Repurchase - Quick Facts

(RTTNews) - Ultratech, Inc. (UTEK), a supplier of lithography, laser-processing and inspection systems used to manufacture semiconductor devices and high-brightness LEDs, said its Board of Directors has authorized the discretionary repurchase of up to $100 million of its outstanding common stock.

Arthur Zafiropoulo, Chairman and CEO, said, "Our management team and Board of Directors have a strong conviction in our long-term growth prospects, and with our strong cash position, this stock repurchase authorization provides an avenue to return capital to investors and build shareholder value."