Thursday, November 20, 2003
Black Box Corporation Announces Increase in Share Repurchase Program
Black Box Corporation (NASDAQ:BBOX) today announced that its Board of Directors approved an increase of 1,000,000 shares under the existing Black Box common share repurchase program. With this increase Black now has authorization to repurchase approximately 1,500,000 of its shares, or approximately 8% of the current outstanding shares.
During the second quarter of Fiscal 2004, the Company repurchased approximately 400,000 shares for an aggregate purchase price of $17 million. And for the first six months of Fiscal 2004, the Company repurchased approximately 800,000 shares for an aggregate purchase price of $32 million. Since inception of the repurchase program in April 1999 through the first six months of Fiscal 2004, the Company has repurchased approximately 4,300,000 shares for an aggregate purchase price of $196 million.
Black Box is the world’s largest technical services company dedicated to designing, building and maintaining today’s complicated network infrastructure systems. Black Box services clients through 117 offices in 132 countries throughout the world.
Black Box Corporation