Docucorp Announces Share Repurchase
February 14 2006 - 3:59PM
Business Wire
Docucorp International(R) (Nasdaq:DOCC), a leading provider of
Customer Communication Management (CCM) solutions, today announced
that it has repurchased 392,841 shares of its common stock in a
private transaction. The purchase represents approximately 3.5
percent of Docucorp's outstanding common stock as of February 13,
2006. The purchase price was $6.00 per share, and was funded with
available cash. The transaction is expected to be accretive to
Docucorp earnings per share in future periods. "We believe that
repurchasing shares of our common stock at an attractive price is
an appropriate means of increasing value to our shareholders," said
Michael D. Andereck, Docucorp's president and chief executive
officer. "With the completion of this transaction, Docucorp has
repurchased a total of 9.8 million shares at an average price of
$5.39 per share since the inception of our stock repurchase program
in 1998." About Docucorp Docucorp markets Customer Communication
Management (CCM) solutions via a portfolio of information software,
business process outsourcing and professional services, which
enables companies to create, publish, manage and archive complex,
high-volume, personalized information in-house or fully outsource
to Docucorp. The company has an installed base of more than 1,300
customers, including some of the largest insurance, utility,
financial services and health care organizations. Headquartered in
Dallas, Docucorp has facilities in Atlanta, Silver Spring, Md.,
Bedford, N.H., and London, as well as international offices in the
Benelux, DACH, Central and Eastern Europe, Middle East and Africa
regions. Certain information contained in this news release may
include "forward-looking" statements within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements,
other than historical facts, included herein are forward-looking
statements. These statements involve risks and uncertainties, such
as competition, technological developments, loss of significant
customers and the other factors discussed in the Company's periodic
reports filed with the Securities and Exchange Commission, that
could cause the Company's actual results to differ materially from
those expressed or implied by these forward-looking statements.
Docucorp is a registered trademark of Docucorp International. (C)
2006 Docucorp International. All Rights Reserved. Company,
organization and product names mentioned herein are trademarks or
registered trademarks of their respective owners. Docucorp and its
symbol are trademarks of Docucorp International.
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