On-Site Sourcing Reports Repurchase of 116,600 Shares
ARLINGTON, Va., July 14 /PRNewswire/ -- On-Site Sourcing (Nasdaq: ONSS - news) today announced that it has repurchased 116,600 shares of its common stock. The shares were repurchased on the open market or through negotiated transactions. On-Site Sourcing first announced that the board of directors had authorized the Company to repurchase up to 500,000 shares, or 10% of the shares outstanding, in December 1999.
According to Christopher J. Weiler, president and chief executive officer of On-Site Sourcing, ``We believe that our stock is an excellent investment, given the dramatic improvement in our financial performance and plans to capitalize on our patented document management technology to grow both internally and through acquisition.''
The Company will continue to assess the value of ongoing share repurchases, and plans to provide periodic updates on repurchase activity.
On-Site Sourcing provides digital imaging, document management, litigation reprographics services, and facilities management throughout the East Coast. On-Site's clients include law firms, corporations, non-profit organizations, accounting firms, financial institutions and other organizations. On-Site currently operates in the New York City, Washington, D.C., Atlanta, Philadelphia and Baltimore markets. |
