DLH Announces $1 Million Share Repurchase Plan
12 September 2019 - 10:00PM
DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the
“Company”), a leading provider of innovative
healthcare services and solutions to federal agencies, today
announced that the Company’s Board of Directors has approved a new
plan to repurchase up to $1,000,000 of shares of DLH’s common
stock. Share repurchases may be made through open market
transactions in compliance with Securities and Exchange Commission
Rule 10b-18, privately negotiated transactions, or other
means. The Company did not set an expiration date for this
plan. Any repurchase activity will depend on factors such as
the Company’s working capital needs, applicable legal requirements,
economic and market conditions, and other relevant factors.
DLH had 12,036,161 shares of common stock outstanding as of
September 1, 2019.
“Given our robust cash flow and current market valuation, we
believe that repurchasing outstanding shares is a smart use of
cash. We are positioned to implement this plan, in
part, because we have already satisfied our required debt
repayments for the next 15 months,” stated Zach Parker, President
and Chief Executive Officer of DLH. “We are confident
we will maintain the financial resources
necessary to continue to grow our business for the benefit of
our shareholders and simultaneously repay our debt, on or ahead of
schedule, for the benefit of our lenders.”
About DLH DLH (NASDAQ:DLHC) serves federal
government clients throughout the United States and abroad
delivering technology enabled solutions in key health and human
services programs. The Company's seven core competencies include
secure data analytics, clinical trials and laboratory services,
case management, performance evaluation, system modernization,
operational logistics and readiness, and strategic digital
communications. DLH has over 1,900 employees serving numerous
government agencies. For more information, visit the corporate
website at www.dlhcorp.com.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995: This press release may
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Any statements
that refer to expectations, projections or of future events or
circumstances or that are not statements of historical fact
(including without limitation statements to the effect that the
Company or its management “believes”, “expects”, “anticipates”,
“plans”, “intends” and similar expressions) should be considered
forward looking statements that involve risks and uncertainties
which could cause actual events or DLH’s actual results to differ
materially from those indicated by the forward-looking statements.
Statements regarding our plans with respect to share repurchases
reflect our current beliefs and assumptions and are subject
to various risks and uncertainties, including our stock price,
the trading volume of our stock, our cash flows from operations,
general economic conditions, and others that are more fully
described in our filings with the SEC, including under the
caption “Risk Factors” in our Annual Report on Form 10-K
for the fiscal year ended September 30, 2018, and in our
subsequent filings with the SEC. Such forward-looking
statements are made as of the date hereof and may become outdated
over time. The Company does not assume any responsibility for
updating forward-looking statements, except as may be required by
law.
CONTACTS:
INVESTOR RELATIONSContact: Chris
WittyPhone:
646-438-9385Email: cwitty@darrowir.com
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