Pomeroy IT Solutions, Inc. Announces Stock Repurchase Program
Pomeroy IT Solutions zu myNews hinzufügen Was ist das?
Pomeroy IT Solutions, Inc. (NASDAQ:PMRY) a technology and services
solution provider, today announced that the Board of Directors of the
Company authorized a program to repurchase up to $5 million of its
outstanding common stock. The timing and extent of the repurchases will
depend on market conditions and is subject to compliance with Rule
10b-18 under the Securities Exchange Act of 1934 (the "Act”).
In addition, the Board adopted a written trading plan under Rule 10b5-1
of the Act to facilitate the repurchase of its common stock pursuant to
the stock repurchase program. Rule 10b5-1 allows the Company to purchase
its shares at times when the Company would not ordinarily be in the
market because of the Company’s trading
policies or the possession of material non-public information. The
Company anticipates financing the stock repurchase program out of
working capital and its available credit facility. The acquired shares
will be held in treasury or cancelled.
The Company has authorized Thomas Weisel Partners to repurchase shares
on the Company’s behalf under the terms and
limitations specified in the 10b5-1 plan. Purchases under the 10b5-1
plan announced today may commence as early as December 6, 2007 and
continue through the earlier of December 5, 2008, or the date on which
$5 million in repurchases is completed. There can be no assurance that
any shares will in fact be repurchased under the 10b5-1 plan. To the
extent that the $5 million limit has not been reached by December 5,
2008, the Company will remain authorized to repurchase additional shares
under the stock repurchase program following termination of the 10b5-1
plan, without further announcement, or may adopt further 10b5-1 plans
pursuant to Board authorization.
About Pomeroy IT Solutions, Inc.
Pomeroy IT Solutions, Inc. is a leading provider of IT infrastructure
solutions focused on enterprise, network and end-user technologies.
Leveraging its core competencies in IT Outsourcing and Professional
Services, Pomeroy delivers consulting, deployment, operational, staffing
and product sourcing solutions through the disciplines of Six-Sigma,
program and project management, and industry best practices. Pomeroy's
consultative approach and adaptive methodology enables Fortune 2000
corporations, government entities, and mid-market clients to realize
their business goals and objectives by leveraging information technology
to simplify complexities, increase productivity, reduce costs, and
improve profitability. For more information, go to.
Forward-Looking Statements
Certain of the statements in the preceding paragraphs regarding
financial results constitute forward-looking statements. These
statements are related to future events or to our future financial
performance and involve known and unknown risks, uncertainties and other
factors that may cause our markets’ actual
results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity,
performance or achievements expressed or implied by such forward looking
statements. These risks and other factors you should specifically
consider include but are not limited to: successful completion of share
repurchase authorizations; changes in customer demands or industry
standards; existing market and competitive conditions, including the
overall demand for IT products and services; the nature and volume of
products and services anticipated to be delivered; the mix of the
products and services businesses; the type of services delivered; the
ability to successfully attract and retain customers and to sell
additional products and service to existing customers; the ability to
timely bill and collect receivables; the ability to maintain a broad
customer base to avoid dependence on any single customer; the need to
successfully attract and retain outside consulting services; the ability
to identify and successfully integrate new acquisitions by the Company;
terms of vendor agreements and certification programs and the
assumptions regarding the ability to perform there under; the ability to
implement the Company’s best practices
strategies; the ability to manage risks associated with customer
projects; adverse or uncertain economic conditions; loss of key
personnel; litigation; and the ability to attract and retain technical
and other highly skilled personnel. In some cases, you can identify
forward-looking statements by such terminology such as "may”,
"should”, "expects”,
"plans”, "anticipates”,
"believes”, "estimates”,
"predicts”, "potential”,
"continue”, "projects”,
"intends”, "prospects”,
"priorities”, or
negative of such terms or other comparable terminology. These statements
are only predictions. Actual events or results may differ materially.