Atmel Announces $200M Addition to Stock Repurchase Program

Atmel® Corporation

today announced that its Board of Directors has authorized an additional $200 million allocation of funds to its existing $500 million common stock repurchase program. Of the company's previously authorized $500 million program, to date the company has repurchased approximately $489.4 million, or 49.9 million shares, of its common stock at an average price of $9.80. "The addition of another $200 million to our current program reflects our confidence in the continued growth of our company and the fundamental strength of our business model," said Stephen Cumming, Atmel's Vice President and Chief Financial Officer.