Concorde Increases Stock Repurchase Program.MISSION, Kan. -- Concorde Career Colleges, Inc. (Nasdaq:CCDC CCDC Cambridge Crystallographic Data Centre CCDC Centre City Development Corporation (San Diego, California) CCDC Consultant in Communicable Disease Control CCDC Certified Chemical Dependency Counselor CCDC Colorado Cross-Disability Coalition ), a provider of career training in allied health programs, today announced that its Board of Directors has approved a 500,000 share increase to its existing share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program. The authorization increases the total purchase program to 1,000,000 shares. Concorde has purchased 333,335 shares pursuant to the original authorization. Approximately 54,400 of those shares were purchased during 2004 at an average price of $14.53. The shares will be repurchased from time to time in open market transactions, block transactions or privately negotiated transactions at the Company's discretion, subject to market conditions and other factors. The purchases are to be made subject to restrictions relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc volume, price and timing in an effort to minimize the impact of the purchases upon the market for the securities. The purchases may be made from any officer, director or control person but such purchases must be pre-approved by the Board. The company will use cash on hand for the repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. program. An arrangement does not currently exist with any person for the purchase of securities. Purchases may be made at any time allowed by regulation until the authorization limit has been completed or the Board rescinds the authorization. The repurchased securities will be returned to Treasury Stock of the Company. Certain statements in this press release may be deemed to be 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. under 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. The Company intends that such forward-looking statements be subject to the 'safe-harbor' provisions of that act. Forward-looking statements regarding economic conditions, efforts of employees, year to year improvements, and effects of corporate initiatives, future profitability, projections, future revenue opportunities, and their impact on 2004 are forward looking statements and not historical facts. These statements are estimates or projections involving numerous risks or uncertainties, including but not limited to, consumer demand, acceptance of services offered by the Company, the Company's ability to maintain current expense and revenue levels, actions by competitors, impairment Impairment 1. A reduction in a company's stated capital. 2. The total capital that is less than the par value of the company's capital stock. Notes: 1. This is usually reduced because of poorly estimated losses or gains. 2. of federal funding, legislative action, student default rates, changes in federal or state authorization or accreditation accreditation, n a process of formal recognition of a school or institution attesting to the required ability and performance in an area of education, training, or practice. changes, changes in market needs and technology, political or regulatory matters, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , general economic conditions, changes in management strategy and the Company's ability to leverage its curriculum and management infrastructure to build its student base. Actual results or events could differ materially from those discussed in the forward-looking statements. See the Company's reports on Forms 14A, 10-K and 10-Q filed with the Securities and Exchange Commission for further information. The Company disclaims any obligation to publicly update, revise or correct any forward looking statements, whether as a result of new information, future events or otherwise. To find out more about Concorde Career Colleges, Inc. (Nasdaq:CCDC), visit our website at www.concordecareercolleges.com. |
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