Docucorp Expands Revolving Credit Facility with Comerica Bank
June 20 2006 - 6:30AM
Business Wire
Docucorp International(R) (Nasdaq:DOCC), a leading provider of
Customer Communication Management (CCM) solutions, announced today
that it has expanded its existing revolving line of credit facility
with Comerica Bank to $20 million from $10 million. The increased
facility will provide Docucorp with additional flexibility to
pursue new business development opportunities, whether through
acquisitions or new product development. Under the terms of the
expanded facility, Docucorp will have the ability to borrow up to
$20 million as allowed by financial covenants. No amounts are
currently outstanding on the credit facility, which has a maturity
date of November 1, 2009. "We are pleased to expand our
relationship with Comerica as we pursue opportunities for continued
growth," said Michael D. Andereck, president and chief executive
officer, Docucorp International. "This line of credit, combined
with Docucorp's cash reserve and low debt, will provide us with
additional resources to grow the business and pursue strategic
acquisitions." 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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