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PCMI - PCM Announces Increase to Share Repurchase Program
GlobeNewswire•August 9, 2017

Board approves $10 Million increase to existing repurchase program

EL SEGUNDO, Calif., Aug. 09, 2017 (GLOBE NEWSWIRE) -- PCM, Inc. (PCMI), a leading technology solutions provider, today announced that its Board of Directors has approved an increase in the Company’s existing share repurchase program by an additional $10 million. The new authorization is in addition to the $4.1 million that was available for repurchase under previous Board authorizations, leaving the Company with $14.1 million available for repurchases under the program.

Brandon LaVerne, Chief Financial Officer, commented, “We continue to believe our shares are undervalued and, based on our current capital resources and the long-term outlook for our business, we see an opportunity to create value for our long-term shareholders.”

Purchases may be made from time to time in negotiated purchases or in the open market at prevailing market prices, including through Rule 10b5-1 prearranged stock trading plans designed to facilitate the repurchase of the Company's shares during times it would not otherwise be in the market due to self-imposed trading blackout periods or possible possession of material nonpublic information. We expect that the repurchase of our common stock under the program will be financed with existing working capital and amounts available under our existing credit facility, subject to any limitations therein. The timing and amounts of any such repurchases of shares will be subject to market conditions and certain other factors, and will be in accordance with applicable securities laws and other legal requirements. The repurchase program has no expiration date, does not require the purchase of any minimum number of shares and may be implemented, modified, suspended or discontinued in whole or in part at any time without further notice.

https://finance.yahoo.com/news/pcm-announces-increase-share-repurchase-212317493.html