Message #23 From:
NewsBot Date: January 5, 2007 09:00:00 AM
OPTO News Optio Software Announces Repurchase Plan
ALPHARETTA, Ga.--(BUSINESS WIRE)--Optio®
Software (OTCBB:OPTO), a leading provider of business process
improvement solutions dedicated to helping customers manage and control
the complete lifecycle of document-intensive processes, today announced
that its Board of Directors has approved a share-repurchase plan of up
to $2 million of its common stock over the next 12 months. The timing,
price and volume of repurchase will be based on market conditions,
relevant securities laws and other factors. The company will cease the
repurchase plan if its cash balance falls below $9 million. The share
repurchases may be made on the open market or in privately negotiated
transactions. The share repurchase plan does not require the company to
repurchase any specific number of shares and the company may terminate
the repurchase plan at any time.
As a condition to entering into the plan, several of the company’s
largest shareholders have agreed not to sell shares on the open market
while the repurchase plan is in effect. These investors can terminate
this restriction by providing 30 days written notice to the company. If
this occurs, the Board of Directors will consider what actions to take,
including terminating the repurchase plan.
“The share repurchase plan underscores our
belief in Optio’s future,”
said C. Wayne Cape, Optio’s President and
Chief Executive Officer. “Repurchasing shares
at current valuation levels is a prudent use of cash and represents an
opportunity to enhance long-term shareholder value.”
About Optio Software, Inc.
Optio Software, with 25 years of experience and more than 5,000 clients,
worldwide, provides software solutions dedicated to automating, managing
and controlling the entire lifecycle of document-intensive processes,
while extending the value of their Enterprise Resource Planning (ERP)
and Hospital Information Systems (HIS) applications. More than 5,000
organizations rely on Optio Software for innovative business process
improvement solutions that allow them to reduce transactional activities
and focus on core responsibilities. Headquartered in Alpharetta, Ga.,
Optio Software maintains European, Middle Eastern and African
headquarters in Paris, France and sales offices in the United States,
Germany and the United Kingdom. For more information about Optio
Software or to contact a local Optio sales consultant, reach us at
770.576.3500 or visit our website at www.optio.com.
This press release includes statements and other matters that could be
considered to be forward-looking and subject to a number of risks and
uncertainties that could cause actual results to differ materially from
expectations. Such forward-looking statements are made pursuant to the
"safe-harbor" provisions of the Private Securities Litigation Reform Act
of 1995 and are made based on management's current expectations or
beliefs as well as assumptions made by, and information currently
available to, management. Optio’s actual
results may differ significantly from those projected in the
forward-looking statements. Factors that might cause or contribute to
such differences include, but are not limited to, risks associated with
Optio's reliance on strategic marketing and reseller relationships, the
collectibility of Optio's accounts receivable, fluctuations in operating
results because of acquisitions or dispositions, failure to integrate
new products and newly acquired companies, diversion of management
resources relating to acquisitions, reduction in cash reserves relating
to acquisitions, challenges relating to acquisitions and the possibility
that this may cause Optio to no longer be profitable, the negative
effect on Optio’s earnings relating to the
amortization or potential write-down of acquired assets or goodwill,
failure to retain the business relationships with existing customers of
acquisitions, changes in competition, changes in economic conditions in
the U.S. and in other countries in which Optio currently does business
(both general and relative to the technology industry), delays or
inability to develop new or unique software, market acceptance of new
products, the failure of new products to operate as anticipated,
expectation of achieving and sustaining operating profits and earnings,
including the timing of such cash flow and company performance, disputes
regarding Optio's intellectual property, risks relating to the delisting
of our stock, possible adverse results of pending or future litigation,
or risks associated with Optio's international operations. These and
additional factors are set forth in “Item
1.A. Risk Factors” included in Optio's most
recent Annual Report on Form 10-K. You should carefully review these
risks and additional risks described in other documents Optio files from
time to time with the Securities and Exchange Commission.
