Alliance Fiber Optic Products (AFOP) Adds $10M to Stock Buyback Program

Alliance Fiber Optic Products (NASDAQ: AFOP) announced that its board of directors has approved an increase to the size of the current stock repurchase program, which was announced previously on August 24, 2015 with the amount of twenty five million dollars. The revised stock repurchase program will continue purchasing up to thirty five million dollars of its outstanding shares of Common Stock. The duration of the repurchase program is open-ended.

Under the program, AFOP could purchase shares of Common Stock from time to time through open market and privately negotiated transactions at prices depending on prevailing market conditions and other factors. The program does not obligate AFOP to repurchase any particular amount of common stock during any period and the program may be modified or suspended at any time at the Company's discretion. The repurchase will be funded by cash on hand.

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