EPIQ Systems, Inc. : Epiq Systems Approves Share Repurchase Program
06/04/2012| 09:14am US/Eastern
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Kansas City, KS (June 4, 2012) - Epiq Systems, Inc. (NASDAQ:
EPIQ), a leading provider of managed technology for the
global legal profession, announced that its Board of
Directors approved a share repurchase program, authorizing up
to $35 million in share repurchases. As of June 1,
2012, Epiq had approximately 36 million shares of common
stock outstanding.
Tom W. Olofson, chairman and CEO of Epiq Systems stated, "The
combination of our quarterly dividend, which we recently
increased by 30%, and the share repurchase program
demonstrates the continued confidence we have in our company
and our commitment to build long-term shareholder
value. Our strong performance and financial flexibility
enable us to return value to our shareholders through our
dividend and repurchase programs."
Depending on market conditions, shares may be repurchased
from time to time at prevailing market prices through the
open market, in block trades or in privately negotiated
purchases. The timing, manner, price and amount of any share
repurchases will be determined by Epiq Systems in its
discretion and will be subject to market and economic
conditions, prevailing stock prices, loan covenants,
leverage objectives, applicable legal and regulatory
requirements, alternative investment opportunities, and other
factors.
About Epiq Systems
Epiq Systems is a leading global provider of
technology-enabled solutions for electronic discovery,
bankruptcy and class action administration. We offer
full-service capabilities, which include litigation,
investigations, financial transactions, regulatory compliance
and other legal matters for eDiscovery. Our innovative
technology and services, combined with deep subject-matter
expertise, provide reliable solutions for the professionals
we serve.
Forward-looking and Cautionary Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended, and include, but are not limited to, any
projection or expectation of earnings, revenue or other
financial items; the plans, strategies and objectives of
management for future operations; factors that may affect our
operating results; new products or services; the demand for
our products or services; our ability to consummate
acquisitions and successfully integrate them into our
operations; future capital expenditures; effects of current
or future economic conditions or performance; industry trends
and other matters that do not relate strictly to historical
facts or statements of assumptions underlying any of the
foregoing. These forward-looking statements are based
on our current expectations which may not prove to be
accurate. Forward-looking statements may be
identified by terms such as "believe," "expect,"
"anticipate," "should," "planned," "may," "estimated,"
"goal," "objective," "seeks," and
"potential" and variations of these words and similar
expressions or negatives of these words. Because
forward-looking statements involve future risks and
uncertainties, listed below are a variety of factors that
could cause actual results and experience to differ
materially from the anticipated results or other expectations
expressed in our forward-looking statements. These
factors include (1) any material changes in our total number
of client engagements and the volume associated with each
engagement, (2) any material changes in our clients' deposit
portfolio or the services required or selected by our clients
in engagements, (3) material changes in the number of
bankruptcy filings, class action filings or mass tort actions
each year, or changes in government legislation or court
rules affecting these filings, (4) overall strength and
stability of general economic conditions, both in the United
States and in the global markets, (5) significant changes in
the competitive environment, (6) risks associated with
handling of confidential data and compliance with information
privacy laws, (7) changes in or the effects of pricing
structures and arrangements, (8) risks associated with the
integration of acquisitions into our existing business
operations, (9) risks associated with indebtedness, (10)
risks associated with foreign currency fluctuations, (11)
risks associated with developing and providing software and
internet-based technology solutions to our clients, (12)
risks associated with cyber attacks, interruptions or delays
in services at data centers, (13) risks of errors or failures
of software or services, (14) risks associated with our
international operations, (15) risks of litigation against
us, and (16) other risks detailed from time to time in our
SEC filings, including our most recent annual report on Form
10-K, quarterly reports on Form 10-Q and current reports on
Form 8-K. In addition, there may be other factors not
included in our SEC filings that may cause actual results to
differ materially from any forward-looking statements. We
undertake no obligation to update publicly or revise any
forward-looking statements contained herein to reflect future
events or developments, except as required by law.
For more information
Lew Schroeber, Investor Relations, telephone:
913-621-9500.
Email: ir@epiqsystems.com or visit
us online at www.epiqsystems.com
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