Captaris Announces Increase to Its Share Repurchase Program
April 19 2006 - 9:45AM
PR Newswire (US)
BELLEVUE, Wash., April 19 /PRNewswire-FirstCall/ -- Captaris, Inc.
(NASDAQ:CAPA), a leading Business Information Delivery solutions
provider, today announced that its Board of Directors has approved
an increase to its previously announced stock repurchase program by
an additional $5.8 million. The total amount available in the
program after the increase is $15.0 million. In January 2005, the
Board of Directors authorized Captaris to repurchase up to $15.0
million of its common stock in open market or privately negotiated
transactions. Subsequently, Captaris repurchased approximately 1.5
million shares of common stock pursuant to the program at a cost of
approximately $5.8 million. Of the 1.5 million shares,
approximately 1.3 million shares were repurchased in 2005 and
approximately 217,000 shares were repurchased in the first quarter
of 2006. Captaris may repurchase shares from time to time pursuant
to the program subject to open trading windows, overall market
conditions, stock prices and its cash position and requirements
going forward. The repurchase program will continue until the
maximum dollar amount authorized is repurchased or the Board of
Directors determines to discontinue the repurchase program. About
Captaris, Inc. Captaris, Inc. is a leading provider of software
products that automate business processes, manage documents
electronically and provide efficient information delivery. Our
product suite of Captaris RightFax, Captaris Workflow and Captaris
Alchemy Document Management is distributed through a global network
of leading technology partners. We have customers in financial
services, healthcare, government and many other industries, and our
products are installed in all of the Fortune 100 and many Global
2000 companies. Headquartered in Bellevue, Washington, Captaris was
founded in 1982 and is publicly traded on the NASDAQ National
Market under the symbol CAPA. For more information please visit
http://www.captaris.com/. NOTE: The following are registered
trademarks and trademarks of Captaris: Captaris, Alchemy, RightFax,
Captaris Document Management, Captaris Interchange and Captaris
Workflow. All other brand names and trademarks are the property of
their respective owners. DATASOURCE: Captaris, Inc. CONTACT:
investors, Todd Kehrli, or Jim Byers, both of MKR Group, LLC,
+1-818-556-3700, or , for Captaris, Inc.; or Melanie Canto,
Director, Treasury and Investor Relations of Captaris, Inc.,
+1-425-638-4048, or Web site: http://www.captaris.com/
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