ARRIS Group, Inc., a global technology leader in the development of advanced cable telephony, next generation high-speed data, demand driven video solutions, operations software and broadband access equipment, today announced that its Board of Directors has authorized the repurchase of up to $100 million of the Company's common stock. Shares will be repurchased in the open market or through block purchases at times and prices considered appropriate by the Company. “We consider a repurchase of our shares to be a sound investment for our Company," said Bob Stanzione, ARRIS Chairman & CEO. "The repurchase authorization by our Board of Directors reflects our strong confidence in the markets that we serve, in the future of ARRIS and also demonstrates our continuing commitment to pursuing opportunities to create shareholder value." The stock trades for 5x cash flow.

When a company announces plans to buy back its shares, it is important to check out the company's fundamentals and prospects. Comcast recently announced a just such a buyback, saying that said it would accelerate its current share buybacks and spend the $6.9 billion remaining in its current authorization by the end of 2009. A 54% jump in its net profit in the fourth quarter to $602 million, or 20 cents a share, recently beat Wall Street expectations. Sales climbed 14% to $8.01 billion. The company benefited from increased spending by customers on cable TV, as well as from acquisitions. The nation's largest cable operator has been facing pressure from shareholders demanding some return of cash. While the shares have tumbled about 35% in the past year, the company has been busy spending on acquisitions. Essentially succumbing to shareholder pressure, Comcast announced an annual dividend of 25 cents a share, beginning this spring. The dividend is the first in almost 10 years, but 1.4% dividend yield is still disappointing to some investors. CEO Brian Roberts allayed concerns over Comcast getting involved in another expensive acquisition and said the company was not looking at bidding for either Yahoo! or Sprint. While the economic slowdown would exert pressure on consumer spending, Comcast is protected to some extent. In several regions, it is the only cable TV provider. The company has been generating cash, and its free cash flow is projected to rise at least 20% from $2.3 billion last year. Comcast is also projecting 8%-10% growth in overall revenue. While this may seem good against the current economic environment, it is a slowdown compared to the company's previously achieved growth. Addressing the slowdown in consumer spending, Comcast plans to introduce a new lower speed, lower cost "economy broadband" package. Also, the company has announced that it will cut back on its capital expenses as a percent of total revenue. It is clear that it is now channeling some of its free cash flows to ensure investor returns. Comcast is a diversified company, which is a good thing, particularly in a recessionary economy, as it faces intensifying competition from phone and satellite TV companies and rising programming costs. However, I think the company will better take advantage of its wide distribution and introduce more content offerings that will help increase its revenue. With Comcast, we have an accelerated buyback, a dividend and a large jump in profits. Comcast is now appeasing some investors by returning some cash to shareholders. I think the company will better use the power of its distribution to introduce new revenue generating products.

While continued buybacks are always a good sign, they are not always an indicator to begin buying shares of a company. Idexx Laboratories (IDXX) has recently increased its buyback program, authoring the repurchase of an additional four million shares. The company had 2,852,000 shares remaining as of Dec. 31, 2007. Idexx, which produces products and provides services for the veterinary industry, saw its profit rise 3% to $25.5 million, or 40 cents a share, in the fourth quarter. The company beat Wall Street expectations with revenue up 27% at $245 million. The segment that contributes the maximum to the company's total revenue, companion animal group, generated 26% revenue growth. Idexx raised its revenue guidance for 2008 to between $1.05 billion and $1.07 billion, from between $1.03 billion and $1.05 billion. This forecast was also ahead of analysts' expectations. It projected earnings of between $1.83 a share and $1.87 a share for the year. Idexx has product launches lined up for this year, which is good news. Two of these products have the potential of revolutionizing the way testing is done by veterinarians. The company's balance sheet is strong with little long-term debt. Also, the company has been generating strong free-cash flows. According to a BusinessWeek article, the market for animal health care is expected to grow at a compound annual growth rate (CAGR) of more than 12% over the next couple of years. Along with Idexx benefiting from pet owners caring for their pets, VCA Antech (WOOF) is another company in the veterinary space that you should take a look at. VCA Antech operates over 435 veterinary hospitals and diagnostic labs. Idexx generates a return on equity of 22.17%, and its shares have gained more than 30% in value over the last 52 weeks, climbing steadily from below $40 at the beginning of this year to now close to $56. However, the pet industry and the company are likely to continue to deliver good news. Any weakness in the shares should be seen as a good buying opportunity.

Semiconductor manufacturing equipment maker Cadence Design Systems Inc. said last week that its board has approved the repurchase of up to $500 million of common stock. The authorization is in addition to the $8.36 million remaining under a previous authorization. The stock trades for 6x cash flow.

Acxiom Corporation recently announced that its board of directors has authorized a $25 million increase in its stock repurchase program. On October 26, 2007, the company announced a 12-month, $75 million program whereby the company would repurchase its common stock in open market or privately negotiated transactions, depending on prevailing market conditions and other factors. Since the inception of the program, the company has purchased approximately 4.175 million shares for a total purchase price of $50.6 million. At a meeting February 13, 2008, the board voted to increase the authorization to $100 million. Also, billionaire investor Edward Lampert has acquired 3.3 million shares of information-technology company Acxiom Inc., according to a Securities and Exchange Commission filing Wednesday. The stock trades for 4.5x cash flow.

NeuStar Inc., a provider of essential clearinghouse services to the communications and Internet industry, said Tuesday its board authorized the repurchase of up to $250 million in Class A stock over two years. The company is targeting the purchase of up to $150 million by year-end. The company recently offered lower guidance and the stock was subsequently hit. Avondale Partners analyst John Bright said the sell-off gives investors an "opportunistic entry point," and noted the company's strong performance recently. "NeuStar continues to maintain a defensive profile, with little exposure to overall macro trends, and a strong balance sheet," Bright said in a client note. He kept his "Market Outperform" rating on the stock, but cut his price target to $29 from $36 due in part to the lowered outlook. The stock trades for 9x cash flow.

Aerospace supplier Goodrich Corp. said Tuesday its board approved the repurchase of $300 million in shares, doubling the funding available starting in October 2006 for share buybacks. The company said it has already repurchased 3.9 million shares for $227 million since October of 2006. The buybacks are intended to mitigate dilution of shareholder stakes caused by stock option grants. The aerospace and defense parts and services supplier also recently reaffirmed its 2008 outlook Thursday, fueled by "double-digit growth" in sales to large commercial airplane manufacturers. The stock trades for 8x cash flow.

The unique, casual dining restaurant recently increased its stock buyback plan by $10 million. Now, the Calabasas Hills, Calf.-based company has about 17.5 million shares available for repurchase. In order to finance the repurchase, the company said they expect to generate between $80 and $90 million in free cash flow throughout 2008. The company, who operates 139 restaurants, is also negotiating a deal with its lenders to increase its credit capacity by $50 million to $100 million to also help fund the buyback. In other news, the company increased the size of its board from 6 members to 8 members and elected Allen Bernstein and Alexander Cappello to fill the newly created spots, beginning Feb 12. "The extension of our repurchase authorization reflects our confidence in The Cheesecake Factory and demonstrates our ongoing commitment to increase shareholder value," said David Overton, Chairman and CEO. On February 5th, CAKE reported full year 2007 earnings of $1.04 per share. This result was in-line with the consensus of the 20 analysts following the company and beat last year's results by 2.0%. However, fourth-quarter earnings of $15.2 million, or 22 cents a share missed analysts' estimates of 26 cents a share. Revenue for the quarter rose 13% to $406.3 million, but fell short of the $413 million forecast. The company said bad weather conditions that resulted in lower-then-expected restaurant traffic severely hurt the restaurants same-store sales. Analyst Greg Ruedy from Stephens Investment Bankers considers The Cheesecake Factory a "best-of-breed" casual dining operator and maintains his overweight rating on the stock. Since CAKE missed fourth quarter expectations, he admits the company is not immune to the challenges in the consumer and commodity environment, but he feels their 2008 business strategy is best suited to withstand it. The company took down the number of restaurant openings in 2008 from 17 to 7-9, with the extra cash flow going towards share repurchases. "And the 2008 menu pricing plans are favorable to protect the brand and the consumer," added Ruedy.