Monday, November 13, 2006
Black Box Corporation Announces Increase in Share Repurchase Program
PITTSBURGH, PENNSYLVANIA, November 13, 2006 -- 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 stock repurchase program. With this increase, Black Box now has authorization to repurchase approximately 1,125,000 of its shares, or approximately 6.5% of the shares outstanding as of November 13, 2006.
"Consistent with our positive cash flow, we remain committed to our stock repurchase program. Since the inception of the program in 1999, we have repurchased approximately 7,376,000 of our shares for an aggregate consideration of $315 million," comments Fred C. Young, Chief Executive Officer.
Black Box is the world’s largest technical services company dedicated to designing, building, and maintaining today’s complicated data and voice infrastructure systems. Black Box services 175,000 clients in 141 countries with 170 offices throughout the world. To learn more, visit the Black Box website at www.blackbox.com.
Black Box and the Double Diamond logo are registered trademarks and DVH is a trademark of BB Technologies, Inc.
Chief Financial Officer
Black Box Corporation