Captaris Announces $6.6 Million Increase to Its Share Repurchase Program
June 13 2007 - 8:00AM
PR Newswire (US)
BELLEVUE, Wash., June 13 /PRNewswire-FirstCall/ -- Captaris, Inc.
(NASDAQ:CAPA), a leading provider of software products that
automate document-centric processes, today announced that its Board
of Directors approved an increase to its previously announced stock
repurchase program by an additional $6.6 million. After the
increase, a total of $15.0 million is available for repurchases
under the program. For the period January 1, 2004 to December 31,
2006, Captaris has repurchased approximately 6.0 million shares of
common stock for approximately $29.7 million. The last increase in
the authorization was in October 2006, and since that time,
Captaris has repurchased approximately 1.0 million shares of common
stock for approximately $6.6 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 2006, 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 the parameters of its Rule 10b5-1 repurchase
plan and, in the case of any discretionary purchases outside of the
plan, 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 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 Global Market under the symbol
CAPA. For more information please visit http://www.captaris.com/.
The following are registered trademarks and trademarks of Captaris:
Captaris, Alchemy, RightFax and Captaris Workflow. All other brand
names and trademarks are the property of their respective owners.
DATASOURCE: Captaris, Inc. CONTACT: Erika Simms, Treasury Analyst
III of Captaris, Inc., +1-425-638-4048, ; or Todd Kehrli or Jim
Byers both of MKR Group, Inc., +1-323-468-2300, , both for
Captaris, Inc. Web site: http://www.captaris.com/
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