Symbolic Logic Inc. (EVOL)

[ScovilleUnits]

Buy Back Program…is/will Karen cut a deal?

Evolving Systems Announces Share Repurchase Program

Friday , May 20, 2011 07:00ET

ENGLEWOOD, CO -- (Marketwire) -- 05/20/11 -- Evolving Systems, Inc. (NASDAQ: EVOL), a leading provider of software solutions and services to the wireless, wireline and cable markets, today announced that its Board of Directors has authorized a share repurchase program for up to $5.0 million in aggregate of the Company's common stock.

Beginning on May 20, 2011, and continuing through December 31, 2011, the Company intends to make purchases from time to time at prevailing market prices either in the open market or through privately negotiated transactions. The size and timing of such purchases, if any, will be based on market and business conditions as well as other factors. The Company is not obligated to purchase any shares. Purchases under the program can be discontinued at any time the Company determines additional purchases are not warranted. As of May 6, 2011, Evolving Systems had 10,762,814 shares outstanding.

"This program underscores the confidence management and the Board have in the Company's long-term growth prospects as well as our ongoing commitment to enhance shareholder value," said Thad Dupper, Chairman and CEO. "We believe that the current market value of our shares does not accurately reflect the underlying value of the Company and the repurchase program represents an attractive opportunity to deploy capital in a way that will benefit stockholders." Dupper added that the Company will finance the purchases with existing cash on the balance sheet and funds from operations and not from proceeds of the pending sale of the Company's Numbering assets.

http://www.knobias.com/story.htm?eid=3.1.1bf2d3539c3ed6640d11bc1db1571478cbeb99e386343ec9f9e0fc69506865e1