CACI Announces New Share Repurchase Program
06 Giugno 2012 - 10:28PM
Business Wire
CACI International Inc (NYSE: CACI), a leading
professional services and information technology solutions provider
to the federal government, announced that its Board of Directors
has authorized the repurchase of four million shares of the
Company’s common stock. The Company plans to commence this
repurchase program in the near term. This is the second share
repurchase the Board has authorized this fiscal year. The first
four million share repurchase program, announced in August 2011,
was completed in early May 2012.
Paul Cofoni, CACI’s President and Chief Executive Officer, said,
“We are pleased to announce this new program. Share repurchase
programs are an integral part of our capital allocation strategy
and an important means to create value for our shareholders.”
Dr. J.P. (Jack) London, CACI’s Chairman of the Board, noted,
“Our share repurchase program demonstrates that CACI’s Board of
Directors continues to have the highest level of confidence in our
leadership team, the company’s vision, our strategy, and our
long-term growth opportunity. We believe that CACI’s future is
solid and the current trading range for CACI stock provides an
exceptional investment value.”
Under the share repurchase program, the Company will proceed to
repurchase four million shares of the Company's common stock from
time to time pursuant to Rule 10(b)-18 of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"). The share repurchase
program will be made pursuant to a plan in accordance with Rule
10b(5)-1 of the Exchange Act.
About CACI
Celebrating our 50th year in business, CACI sustains an
exceptional record of success by providing professional services
and IT solutions needed to prevail in the areas of defense,
intelligence, homeland security, and IT modernization and
government transformation. We deliver enterprise IT and network
services; data, information, and knowledge management services;
business system solutions; logistics and material readiness; C4ISR
solutions and services; cyber solutions; integrated security and
intelligence solutions; and program management and SETA support
services. CACI solutions help federal clients provide for national
security, improve communications and collaboration, secure
information systems and networks, enhance data collection and
analysis, and increase efficiency and mission effectiveness. A
member of the Fortune 1000 Largest Companies and the Russell 2000
index, CACI provides dynamic careers for approximately 14,600
employees working in over 120 offices in the U.S. and Europe. Visit
CACI on the web at www.caci.com and www.asymmetricthreat.net.
There are statements made herein which do not address historical
facts, and therefore could be interpreted to be forward-looking
statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Such statements are subject to
factors that could cause actual results to differ materially from
anticipated results. The factors that could cause actual results to
differ materially from those anticipated include, but are not
limited to, the following: regional and national economic
conditions in the United States and globally (including the impact
of uncertainty regarding U.S. debt limits and actions taken related
thereto); terrorist activities or war; changes in interest rates;
currency fluctuations; significant fluctuations in the equity
markets; changes in our effective tax rate; valuation of contingent
consideration in connection with business combinations; failure to
achieve contract awards in connection with recompetes for present
business and/or competition for new business; the risks and
uncertainties associated with client interest in and purchases of
new products and/or services; continued funding of U.S. government
or other public sector projects, based on a change in spending
patterns, or in the event of a priority need for funds, such as
homeland security, the war on terrorism, or an economic stimulus
package; government contract procurement (such as bid protest,
small business set asides, loss of work due to organizational
conflicts of interest, etc.) and termination risks; the results of
government investigations into allegations of improper actions
related to the provision of services in support of U.S. military
operations in Iraq; the results of government audits and reviews
conducted by the Defense Contract Audit Agency, the Defense
Contract Management Agency, or other government entities with
cognizant oversight; individual business decisions of our clients;
paradigm shifts in technology; competitive factors such as pricing
pressures and/or competition to hire and retain employees
(particularly those with security clearances); market speculation
regarding our continued independence; material changes in laws or
regulations applicable to our businesses, particularly in
connection with (i) government contracts for services, (ii)
outsourcing of activities that have been performed by the
government, and (iii) competition for task orders under Government
Wide Acquisition Contracts ("GWACs") and/or schedule contracts with
the General Services Administration; the ability to successfully
integrate the operations of our recent and any future acquisitions;
our own ability to achieve the objectives of near term or long
range business plans; and other risks described in the company's
Securities and Exchange Commission filings.
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