O/S: 57,074,036 $420,000,000 in cash 420 mill divided by 57 mill gives 7.35 share price
Taken from the conference call, April 28, 2011
Minute 17:00 - 18:47
"Let me update you on a few other matters. We remain very confident , we will meet or exceed the Q4 2011 company guidance for revenue of $62.7 Million dollars and adjusted EPS of .47 .
A number of investors have asked, "How many shares from the FIFTY MILLION dollar buyback, we have bought back, - and it is our policy to update investors on a quarterly basis which i will do now. We have NOT been able to repurchase any shares since the March announcement, because very shortly after announcing - we revised that the company had new information that was potentially material in a POSITIVE way for the company, and we should refrain from purchasing our own stock so as to avoid the possibility of insider trading.
Once our window opens, our board has authorized an ADDITIONAL FIFTY MILLION to buy back shares, taking the total buyback to ONE HUNDRED MILLION. The company also shortened the buyback period to ONE YEAR. The whole program will expire on May 1, 2012. I will ask for investor patience, as we will aggressivly defend our stock once the window opens and we feel the time is right. We would also like to tell our investors that as of the end of March, 2011 we had over $420,000,000 in cash and NO DEBT