0000840715-12-000025.txt : 20120517 0000840715-12-000025.hdr.sgml : 20120517 20120516184934 ACCESSION NUMBER: 0000840715-12-000025 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120516 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120517 DATE AS OF CHANGE: 20120516 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CLEARONE COMMUNICATIONS INC CENTRAL INDEX KEY: 0000840715 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 870398877 STATE OF INCORPORATION: UT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33660 FILM NUMBER: 12850027 BUSINESS ADDRESS: STREET 1: 5225 WILEY POST WAY STREET 2: SUITE 500 CITY: SALT LAKE CITY STATE: UT ZIP: 84116 BUSINESS PHONE: 8019757200 MAIL ADDRESS: STREET 1: 5225 WILEY POST WAY STREET 2: SUITE 500 CITY: SALT LAKE CITY STATE: UT ZIP: 84116 FORMER COMPANY: FORMER CONFORMED NAME: GENTNER COMMUNICATIONS CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: GENTNER ELECTRONICS CORP DATE OF NAME CHANGE: 19910808 8-K 1 clrobuyback_8k.htm CLEARONE'S BOD AUTHORIZES BUY-BACK Draft 7-11-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT Pursuant

to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): May 16, 2012

 

ClearOne Communications, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Utah

(State or Other Jurisdiction of Incorporation)

 

001-33660

 

87-0398877

(Commission File Number)

 

(I.R.S. employer
identification number)

5225 Wiley Post Way, Suite 500, Salt Lake City, Utah

 

84116

Address of principal executive offices)

 

(Zip Code)

 

 

(801) 975-7200

(Registrant’s Telephone Number, Including Area Code)

 

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

[   ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[   ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[   ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[   ]  Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.             Other Events.

 

On May 16, 2012, ClearOne Communications, Inc. (the “Company”) issued a press release attached hereto as Exhibit 99.1 and incorporated by reference.  In the press release, the Company announced that its Board of Directors had authorized a stock buy-back program to acquire up to $2,000,000 in the Company’s common stock during the next twelve months.  All purchases will be executed in accordance with applicable federal securities laws.

 

Item 9.01              Financial Statements and Exhibits.

                                                                                                                                               

(d)           Exhibits.

 

Exhibit No.

Title of Document

Location

99.1

Press Release dated May 16, 2012 captioned “ClearOne’s Board of Directors Authorizes Stock Buy-Back.”

This Filing

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

CLEARONE COMMUNICATIONS, INC.

 

 

 

 

 

 

 

 

 

Date:  May 16, 2012

By:

/s/ Zeynep Hakimoglu

 

 

Zeynep Hakimoglu

 

 

President and Chief Executive Officer

 

 

 

 

 EX-99 2 exhibit_99z1doc.htm EX 99.1 PRESS RELEASE Converted by EDGARwiz

Contact:

Jeff LeFevre

Investor Relations

801-303-3438

jeff.lefevre@clearone.com



ClearOne’s Board of Directors Authorizes Stock Buy-back


SALT LAKE CITY, UTAH (May 16, 2012) — ClearOne (NASDAQ: CLRO) today announced the company’s Board of Directors has approved a stock repurchase program. Under the program, ClearOne is authorized to repurchase up to $2 million of its outstanding shares of common stock from time to time over the next 12 months in open market or privately negotiated transactions depending on prevailing market conditions and other factors.  The repurchase program may be suspended or discontinued at any time. All purchases will be executed in accordance with applicable federal securities laws.


 “Our current market valuation, cash balance and ongoing cash flow generation are all factors leading to our decision to activate a repurchase program, which we feel is an appropriate use of cash,” said Zee Hakimoglu, President, Chief Executive Officer and Chairman of ClearOne. “This move will also provide ClearOne with adequate flexibility for future initiatives.”


About ClearOne

ClearOne is a global company that designs, develops and sells conferencing, collaboration, streaming and digital signage solutions for audio, video and data multimedia communication.  The performance and simplicity of its advanced comprehensive solutions enhance the quality of life.  ClearOne products are designed for business and residential use, offering unprecedented levels of functionality, reliability and scalability.  More information about the company can be found at www.clearone.com.