Spreadtrum Communications Announces $100M Share Repurchase Program; Management's Intention to Repurchase Stock

Spreadtrum Communications, Inc. SPRD today announced that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to US$100 million of its American Depositary Shares pursuant to a Rule 10b5-1 repurchase plan. The share repurchase program will be funded with the Company's cash on hand. Members of the Company's management team also intend to purchase the Company's outstanding shares through the open market.