Canterbury Consulting Group, Inc. Announces Additional Stock Buyback.Business Editors MEDFORD, N.J.--(BUSINESS WIRE)--May 8, 2002 Canterbury Consulting Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CITI CITI Columbia Institute for Tele-Information (Columbia University) CITI Center for Information Technology Integration (University of Michigan) CITI Collaborative IRB Training Initiative ) announced today that it had completed the stock buyback Stock buyback A corporation's purchase of its own outstanding stock, usually in order to raise the company's earnings per share. stock buyback See buyback. announced on April 18, 2002, and that its Board of Directors has authorized an additional buyback of $125,000 of common stock at this time. This second buyback will occur periodically in the open market within the next 90 days. Kevin McAndrew, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Canterbury Consulting Group, Inc., stated, "Our Board of Directors has approved this second buyback because we continue to believe that Canterbury's common stock is undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. and that the purchase of our stock is an excellent investment for the future." The Canterbury Companies provide a wide variety 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. services, products, staffing and training to Fortune 1000 companies and government organizations nationwide. -- ATM/Canterbury Corp. is a software consulting and development company that specializes in document imaging, tracking and retrieval for records and asset management. -- CALC/Canterbury Corp. offers technical and applications computer training, technical services and consulting and portal development services. It is a Microsoft Solutions Provider and a Microsoft Certified Technical Education Center (CTEC), as well as a Lotus Authorized Education Center (LAEC). -- DMI/Canterbury Corp. is a management and systems consulting company that provides technical staff augmentation solutions and consulting services. -- MSI/Canterbury Corp. provides sales and management training, consulting, and executive coaching. -- USC/Canterbury Corp. provides enterprise solutions, network development, design and technical consulting, and is a premier value added reseller of hardware and software. -- Usertech/Canterbury Corp. designs, develops and delivers customized employee training programs in support of client systems implementations using a blend of traditional and electronic (e-Learning) delivery systems. In addition to historical facts or statements of current condition, this press release may contain forward-looking statements. The Company's performance and financial results could differ materially from those reflected in the forward-looking statements due to general financial, economic, regulatory and political conditions or additional factors unknown to the Company at this time, as well as more specific risks and uncertainties such as those set forth in documents filed by the Company with the SEC (including, but not limited to, its most recent reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. , Form 10-Q Form 10-Q See 10-Q. and 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. , copies of which are available upon request or over the Internet at www.sec.gov). Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, current or prospective investors are cautioned not to place undue reliance on any such forward-looking statements. Furthermore, the Company has no intent, and disclaims any obligation, to update any such factors or forward-looking statements to reflect future events or developments. |
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