Complete Story
03/30/2010
CSI BOARD AUTHORIZES $5 MILLION ADDITION TO SHARE REPURCHASE PROGRAM
PADUCAH, Ky. - (March 30, 2010) - Computer Services, Inc. (CSI) (OTCQX: CSVI) announced today that its Board of Directors authorized a $5 million increase in the Company's share repurchase program. The additional authorization brings the total to $50 million since its share repurchase program was initially announced in March 2004. CSI has repurchased approximately $44.6 million of the Company's shares through the end of its fiscal year ended February 28, 2010. The share repurchase program may be carried out through open market purchases, block trades and in negotiated private transactions.
"The Board's authorization to expand our buyback program of CSI's shares highlights our confidence in the future of our Company," stated President and Chief Executive Officer Steven A. Powless. "We believe CSI's stock represents an excellent value at recent prices. We plan to use our existing cash reserves and strong cash flow from operations to fund the repurchase program. We remain very positive about the future for CSI and the opportunities to leverage our strong financial position through this stock repurchase program."
The stock repurchase program will be conducted on an ongoing basis and will be subject to availability of stock, market conditions, the trading price of the stock and the Company's financial performance.




