Tollgrade's Board of Directors Approves $15 Million Share Repurchase Program
PITTSBURGH, Oct. 28 /PRNewswire-FirstCall/ -- Tollgrade Communications,
Inc. (Nasdaq: TLGD), a leading supplier of network service assurance test
products and solutions, today announced that its Board of Directors has
approved a repurchase program for the Company's common stock with an aggregate
share value of up to $15 million, through open market and privately negotiated
transactions. Repurchases under the program will be at the Company's
discretion and subject to market conditions, trading price and other factors.
This authorization to repurchase shares has no time limit and does not
obligate the Company to acquire any particular amount of common stock and at
the Board's discretion, may be suspended, discontinued or modified at any
time. As of September 27, 2008, the Company had approximately 13.2 million
shares of common stock outstanding.
About Tollgrade
Tollgrade Communications, Inc. is a leading provider of service assurance
products and services for centralized test systems around the world.
Tollgrade designs, engineers, markets and supports centralized test systems,
test access and status monitoring products, and next generation network
assurance technologies. Tollgrade's customers range from the top telecom and
cable providers, to numerous independent telecom, cable and broadband
providers around the world. Tollgrade's testing, measurement and monitoring
solutions support the infrastructure of cable and telecom companies offering
current and emerging triple play services, as well as for power distribution
companies. For more information, visit Tollgrade's web site at
www.tollgrade.com
