OWINGS MILLS, Md.-Again proving its solid business position, Aether Systems Inc. announced today it will buy back $20 million in convertible debt.
“Our decision to buy back $20 million in debt reiterates the fact that Aether’s cash position is solid and our path to profitability remains clear,” said Dave Oros, Aether’s chairman and chief executive officer.
The company also restated its guidance for the year, which includes $37 million in revenue for the second quarter and $160 million for the year.
Aether’s stock dropped 2 percent in trading today, following a downward trend in the market. Its stock was at $11.79 per share in midafternoon trading.
