Axcelis Signals For Addl. $200 Mln Fund For Share Repurchase

(RTTNews) - Axcelis Technologies, Inc. (ACLS), a provider of equipment and services to the semiconductor manufacturing industry, said on Tuesday that it has authorized an additional funding of $200 million for the company's share repurchase program. The purchases are funded from available working capital.

Russell Low, CEO of Axcelis, said: "From 2019 through the second quarter of this year, we have returned over $157 million of cash to shareholders via stock repurchases. The additional funding will maintain our program when the Board's prior funding is exhausted later this year. The strength of our business model and significant cash flow generation enable us to continue investing for the long term, while also returning cash to our shareholders."