Docucorp Expands Stock Repurchase Program
March 23 2006 - 6:30AM
Business Wire
Docucorp International(R) (Nasdaq:DOCC), a leading provider of
Customer Communication Management (CCM) solutions, today announced
that its Board of Directors has authorized the repurchase of up to
one million shares of the Company's common stock. "We believe that
repurchasing shares of our common stock is an appropriate means of
increasing value to our shareholders," said Michael D. Andereck,
Docucorp's president and chief executive officer. "Since the
inception of our stock repurchase program in 1998, Docucorp has
repurchased a total of 9.8 million shares at an average price of
$5.39 per share." Docucorp will continue to repurchase shares from
time to time, depending on market conditions, in the open market
and in privately negotiated transactions. 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
an international presence in the Benelux, Switzerland, 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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