IFSL news today, 3% of monthly profits will go into repurchase of common shares from the open market
Ideal Financial Solutions Announces Stock Buy Back Plan
0 minutes ago - Globenewswire
As of 3:57 PM ET 10/23/09
Ideal Financial Solutions, Inc. (Pink Sheets:IFSL), a leader in personal cash-flow management and debt elimination services, has announced its plan to repurchase and retire common shares from the open market as revenue and profits continue to increase.
"As revenues continue to increase, management has decided to take a minimum of 3% of our monthly profits to be used to repurchase common shares from the open market and to retire those shares to treasury for the next six months," stated Ideal Financial Solutions Chief Financial Officer Kent Brown. "We believe that this is the right move for us as we have worked hard to pay down our debt and to continue to use our cash resources to build market share. Now we want to commit some of our cash to the repurchase of our stock."
"We remain committed to this company's long-term growth strategy and its shareholders," Brown added.
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