Roger, I figured that this was coming- price of CSGS does not reflect its future potential even if you factor in higher interest rates and compress its multiple a bit...
SOURCE: CSG Systems International, Inc.
CSG Systems International, Inc. Authorizes Buyback of 5 Million Shares
DENVER, Aug. 4 /PRNewswire/ -- CSG Systems International, Inc.(SM) (Nasdaq: CSGS - news) announced today that its Board of Directors has approved a
stock repurchase plan which authorizes the Company to purchase up to a total of 5,000,000 shares of its Common Stock from time to time as market and business
conditions warrant. This program represents almost 10% of the shares outstanding.
''This program demonstrates our commitment to enhancing shareholder value,'' Neal Hansen, Chairman and Chief Executive Officer said. ''We believe that CSG's
stock price has been particularly attractive recently. The Company's fundamentals are strong and we are aggressively pursuing the opportunities that the changing
communications marketplace presents.''
The stock repurchase plan will be in effect until terminated by the Board of Directors of the Company. The stock may be used in connection with stock option and
warrant exercises, employee stock purchases and possible acquisitions. The Company currently has approximately 51,500,000 shares outstanding.
About CSG Systems International, Inc.
Based in Denver, Colorado, CSG Systems provides customer care and billing solutions worldwide for the converging communications markets, including cable
television, direct broadcast satellite, telephony, on-line services and others. The company offers its clients a full range of processing services, software and support
services that automate customer management functions, including billing, sales support, order processing, and invoice analysis for target marketing.
This news release contains forward-looking statements that are based on assumptions about a number of important factors and involve risks and uncertainties that
could cause actual results to differ materially from what appears in this press release. These factors include, but are not limited to, the following: 1) The Company's
revenue is heavily dependent upon the continued market acceptance of Broadband Express (formerly known as CCS) and related products and services; 2) the
Company's ability to continue to perform satisfactorily under the terms of its contract with TCI and AT&T; 3) the Company's ability to enhance its existing product
offerings and develop new technology that will retain existing customers and capture new market share; and 4) adequate mitigation of risks associated with
processing data beyond the year 2000. This list is not exhaustive and readers are encouraged to review the additional risks and important factors described in the
Company's Report to Stockholders on Forms 10-K and 10-Q and other filings made with the SEC.
SOURCE: CSG Systems International, Inc. |
