Computer Task: Brendan Harrington, Senior Vice President And Chief Financial Officer
The following excerpt is from the company's SEC filing
BUFFALO, N.Y. January 6, 2014 CTG (NASDAQ: CTG), an information technology (IT) solutions and services company, today announced that it has
extended a stock repurchase plan under Rule 10b5-1 of the Securities and Exchange Commission (the Company 10b5-1 Plan) to facilitate the repurchase of its common stock. The Company had approximately 1.1 million shares available for
repurchase as of December 31, 2013 under its outstanding repurchase authorizations.
We are again extending our 10b5-1 plan as it gives us the
ability to repurchase shares during our self-imposed blackout periods prior to the announcemen
t of quarterly results, said CTG Chairman and Chief Executive Officer James R. Boldt.
The plan is effective from January 7, 2014 until the day following the Companys release of its 2013 fourth quarter and full year financial results.
CTGs 10b5-1 plan allows for the repurchase of shares during the time following the close of a quarter and the announcement of quarterly financial results when the Companys stock repurchase policy does not allow for the direct purchase of
shares by the Company. Repurchases are subject to SEC regulations as well as certain price, market, volume, and timing constraints specified in the plan. The plan does not require that any shares be purchased.
CTG develops innovative IT solutions to
address the business needs and challenges of companies in several higher-growth industries including healthcare, technology services, energy, and financial services. As a leading provider of IT and business consulting services to the healthcare
market, CTG offers healthcare institutions, physician practices, payers, and related organizations a full range of offerings to help them achieve clinical, operational, and financial goals. CTG has also developed for the healthcare provider and
payer markets unique,
proprietary software solutions that support better and lower cost healthcare. CTG also provides managed services IT staffing for major technology companies and large corporations. Backed by over
45 years experience, proprietary methodologies, and an ISO 9001-certified management system, CTG has a proven track record of delivering high-value, industry-specific solutions. CTG operates in North America and Western Europe. CTG posts news
and other important information on the Web at www.ctg.com.
This document contains certain forward-looking statements concerning the Companys current expectations as to future growth. These statements are based
upon a review of industry reports, current business conditions in the areas where the Company does business, the availability of qualified professional staff, the demand for the Companys services, and other factors that involve risk and
uncertainty. As such, actual results may differ materially in response to a change in such factors. Such forward-looking statements should be read in conjunction with the Companys disclosures set forth in the Companys 2012 Form 10-K,
which is incorporated by reference. The Company assumes no obligation to update the forward-looking information contained in this release.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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