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): September
4, 2007
ClearOne
Communications, Inc.
(Exact
Name of Registrant as Specified in Its Charter)
Utah
(State
or
Other Jurisdiction of Incorporation)
|
000-17219
|
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
30.425)
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
40.14a-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))
1
Item
8.01 Other Events
On
September 4, 2007, ClearOne Communications, Inc. (the “Company”) issued a press
release announcing that the Company’s Board of Directors approved a new share
repurchase program to purchase up to $3.6 million of the Company’s stock over
the next twelve months in open market and private block transactions. Shares
repurchased will be financed from the company's existing cash and short-term
investments.
The
full
text of the Company’s press release is furnished herewith as Exhibit 99.1.
(d)
Exhibits.
|
Title
of Document
|
Location
|
|
|
99.1
|
Press
Release dated September 4, 2007 captioned “ClearOne Announces Share
Repurchase Plan.”
|
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:
September 4, 2007
|
By:
|
/s/
Greg LeClaire
|
|
Greg
LeClaire
|
||
|
Chief
Financial Officer
|
||
2
Exhibit
99.1
Contacts:
ClearOne
Communications, Inc.
Investor
Relations
(801)
303-3555
Robert
Jaffe
PondelWilkinson
Inc.
(310)
279-5980
CLEARONE
ANNOUNCES SHARE REPURCHASE PLAN
Salt
Lake City, UT - September 4, 2007 - ClearOne
Communications, Inc. (NASDAQ: CLRO) today announced that its board of directors
authorized a share repurchase program to purchase up to $3.6 million of the
company’s common stock over the next 12 months in open market and private block
transactions. Share repurchases will be financed from the company's existing
cash and short-term investments.
Over
the
last twelve months, the company repurchased approximately 315,000 shares of
its
common stock at a total cost of approximately $1.8 million in open market and
private block transactions and approximately 1.1 million shares of its common
stock at total price of approximately $4.6 million in a tender offer which
expired in December 2006.
“Our
commitment to continue repurchasing our common stock, in addition to the 1.4
million shares already repurchased, demonstrates our confidence in our business
and represents an efficient return of capital to our shareholders,” said Zee
Hakimoglu, president, chief executive officer and chairman of ClearOne.
About
ClearOne
ClearOne
is a communications solutions company that develops and sells audio conferencing
systems and other related products for audio, video, and web conferencing
applications. The reliability, flexibility, and performance of ClearOne’s
comprehensive solutions create a natural communications environment, which
saves
organizations time and money by enabling more effective and efficient
communication. For more information, visit ClearOne’s website at
www.clearone.com.
This
release contains “forward-looking” statements
that
are based on present circumstances and on ClearOne’s predictions with respect to
events that have not occurred, that may not occur, or that may occur with
different consequences and timing than those now assumed or anticipated. Such
forward-looking statements, including statements regarding the company’s ability
to successfully commercialize newer products and enter new markets, are not
guarantees of future performance or results and involve risks and uncertainties
that could cause actual events or results to differ materially from the events
or results described in the forward-looking statements. Such forward-looking
statements are made only as of the date of this release and ClearOne assumes
no
obligation to update forward-looking statements to reflect subsequent events
or
circumstances. Readers should not place undue reliance on these forward-looking
statements.