Captaris Announces Increase to Its Share Repurchase Program
October 31 2006 - 8:45AM
PR Newswire (US)
BELLEVUE, Wash., Oct. 31 /PRNewswire-FirstCall/ -- Captaris, Inc.
(NASDAQ:CAPA), a leading provider of software products that
automate document-centric business processes, today announced that
its Board of Directors approved an increase to its previously
announced stock repurchase program by an additional $8.0 million.
After the increase, a total of $15.0 million is available for
repurchases under the program. In May 2006, the Board of Directors
authorized Captaris to repurchase up to $15.0 million of its common
stock in open market or privately negotiated transactions. Since
that time, Captaris repurchased approximately 1.5 million shares of
common stock for approximately $8.0 million. These repurchases were
made through a combination of discretionary repurchases during the
Company's open trading window and the Company's previously
announced Rule 10b5-1 repurchase plan. The Rule 10b5-1 plan, which
commenced in mid-September, is designed to allow the Company to
purchase its shares at times when it ordinarily would not be in the
market because of self-imposed trading blackout periods. Captaris
may repurchase shares from time to time pursuant to the program
subject to 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:
Melanie Canto, Director, Treasury and Investor Relations of
Captaris, Inc., +1-425-638-4048, or ; or Todd Kehrli or Jim Byers,
Investor Relations of MKR Group, LLC, +1-323-468-2300, for , for
Captaris, Inc. Web site: http://www.captaris.com/
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