CIBER Expands Stock Repurchase Plans.Business Editors GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--April 18, 2001 CIBER CIBER Center for International Business Education and Research (various locations) CIBER Center for International Business and Research (Michigan State University) CIBER Cellular Inter-Carrier Billing Exchange Record , Inc. (NYSE NYSE See: New York Stock Exchange :CBR (1) (Computer-Based Reference) Reference materials accessible by computer in order to help people do their jobs quicker. For example, this database on disk! (2) (Constant Bit Rate) A uniform transmission rate. ) announced today that the company's Board of Directors has authorized the repurchase of an additional one million shares of CIBER's outstanding common stock. The company plans to continue purchasing stock on the open market, through negotiated or block transactions, and could continue to do so from time to time based upon market and business conditions. In part, CIBER's board authorized management to continue the existing program to repurchase shares to satisfy the needs of its various employee benefit plans on an ongoing basis. CIBER has approximately 57 million shares of common stock outstanding. "We have repurchased approximately 5.5 million shares of our original authorization of 5,845,000 shares," said Mac Slingerlend, CIBER's President and Chief Executive Officer. "We have reissued over 2.5 million of these shares in acquisitions and under various stock incentive programs, including the exercising of options and our Employee Stock Purchase Program (ESPP See Employee Stock Purchase Plan. ). We find ourselves with only enough remaining authorization for a portion of this quarter. Instead of issuing additional shares at this price, our preference is to use our earnings and cash flow to repurchase shares and then issue the repurchased shares to satisfy internal demand without adding to our shares outstanding." CIBER, Inc. (NYSE:CBR) is the trusted technology leader transforming businesses to be agile, scalable and connected. Backed by 27 years of information technology consulting Information technology consulting (IT consulting or business and technology services) is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. , CIBER provides thought leadership in Internet solutions to Global 2000 and rapidly scaling companies and governments through its National Practices -- Strategy and Enterprise Integration, Wireless, Internet Services, Business Intelligence, Network and Security Integration and Outsourcing. Based in Greenwood Village, Colo., the company's consultants serve client businesses from 35 CIBER, 15 DigiTerra, two Solution Partners, four Waterstone and four Enspherics offices in the U.S., Canada and Europe. CIBER's web site is www.ciber.com. This news release may include statements that may constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ," including estimates of future business prospects or financial results and statements containing the words "believe," "expect," or similar expressions. Any forward-looking statements herein are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. There are many factors that could cause actual results of CIBER and its subsidiaries (collectively, the "Company") to differ materially from forward-looking statements. Please refer to a discussion of these factors in the Company's Annual Reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , 10-Qs and other Securities and Exchange Commission filings, which are incorporated herein by reference. The Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. CIBER and the CIBER logo are trademarks or registered trademarks of CIBER, Inc. |
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