EXAR » Topics » Stock Repurchase Program

This excerpt taken from the EXAR 10-K filed Jun 12, 2007.

Stock Repurchase Program

In March of 2001, we announced our $40.0 million common stock repurchase program to acquire outstanding stock in the open market to partially offset dilution from our stock awards program. In furtherance of the common stock repurchase program, on October 27, 2006, we announced the adoption of a 10b5-1 share purchase plan covering the purchase of up to $16.0 million worth of our common stock. The 10b5-1 share purchase plan was adopted to facilitate the repurchase of shares during trading blackout periods and is effected through a broker based on instructions expressly set forth in the purchase plan. No existing repurchase plans or programs expired, nor have we decided to terminate any repurchase plans or programs prior to expiration. We plan to continue making purchases under our stock purchase program. During the fiscal year ended March 31, 2007, we repurchased approximately 748,000 shares for approximately $9.9 million. During the fiscal year ended March 31, 2006, we repurchased 270,000 shares for approximately $3.6 million. In the future, we may utilize this stock repurchase program, which would reduce cash, cash equivalents and/or marketable securities available to fund future operations and meet other liquidity requirements. Under this program, $18.2 million remains available to repurchase Exar’s common stock as of March 31, 2007.

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