Captaris Announces Increase to Its Share Repurchase Program
Bellevue, Wash., October 31, 2006 – Captaris, Inc. (NASDAQ: CAPA), a leading provider of software products that automate document-centric business processes, today announced that its Board
of Directors approved an increase to its previously announced stock repurchase program by an additional $8.0 million. After
the increase, a total of $15.0 million is available for repurchases under the program.
In May 2006, the Board of Directors authorized Captaris to repurchase up to $15.0 million of its common stock in open market
or privately negotiated transactions. Since that time, Captaris repurchased approximately 1.5 million shares of common stock
for approximately $8.0 million. These repurchases were made through a combination of discretionary repurchases during the
Company's open trading window and the Company's previously announced Rule 10b5-1 repurchase plan. The Rule 10b5-1 plan, which
commenced in mid-September, is designed to allow the Company to purchase its shares at times when it ordinarily would not
be in the market because of self-imposed trading blackout periods.
Captaris may repurchase shares from time to time pursuant to the program subject to overall market conditions, stock prices
and its cash position and requirements going forward. The repurchase program will continue until the maximum dollar amount
authorized is repurchased or the Board of Directors determines to discontinue the repurchase program.
About Captaris, Inc. Captaris, Inc. is a leading provider of software products that automate business processes, manage documents electronically
and provide efficient information delivery. Our product suite of Captaris RightFax, Captaris Workflow and Captaris Alchemy
Document Management is distributed through a global network of leading technology partners. We have customers in financial
services, healthcare, government and many other industries, and our products are installed in all of the Fortune 100 and many
Global 2000 companies. Headquartered in Bellevue, Washington, Captaris was founded in 1982 and is publicly traded on the NASDAQ
National Market under the symbol CAPA. For more information please visit www.captaris.com.
The following are registered trademarks and trademarks of Captaris: Captaris, Alchemy, RightFax, Captaris Document Management,
Captaris Interchange and Captaris Workflow. All other brand names and trademarks are the property of their respective owners.
|