Kronos(R) Expands Stock Repurchase Program by 1,250,000 Shares.CHELMSFORD, Mass. -- Kronos([R]) Incorporated (Nasdaq: KRON KRON Knowledge Representation Oriented Nets ) announced today that its Board of Directors voted to extend its stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program. This increase authorizes Kronos to 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. an additional 1,250,000 shares of common stock. Aron Ain, Kronos' chief executive officer, commented, "The Board's approval to expand our stock repurchase program reflects our confidence in the future of Kronos." Under six previously completed 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. programs, Kronos repurchased a total of 6,187,500 common shares. In addition, Kronos has repurchased 707,137 shares of the 750,000 shares in the current stock buyback program. From time to time the company, at its discretion, makes share repurchases 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. in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with applicable securities law in open market transactions. About Kronos Incorporated Kronos Incorporated empowers organizations around the world to effectively manage their workforce. At Kronos, we are experts who are solely focused on delivering software and services that enable organizations to reduce costs, increase productivity, improve employee satisfaction, and ultimately enhance the level of service they provide. Kronos serves customers in more than 50 countries through its network of offices, subsidiaries, and distributors. Widely recognized as a market and thought leader in managing the workforce, Kronos has unrivaled reach with more than 30 million people using a Kronos solution every day. Learn more about Kronos at www.kronos.com. [c] 2006 Kronos Incorporated. Kronos and the Kronos logo are registered trademarks of Kronos Incorporated or a related company. All other product and company names mentioned are used for identification purposes only and may be trademarks of their respective owners. |
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