eResearchTechnology, Inc. Announces Stock Buy-back Program Increase to 12.5 Million Shares
04 May 2005 - 12:05AM
PR Newswire (US)
eResearchTechnology, Inc. Announces Stock Buy-back Program Increase
to 12.5 Million Shares PHILADELPHIA, May 3 /PRNewswire-FirstCall/
-- eResearchTechnology, Inc. (NASDAQ:ERES) ("eRT" or "the
company"), a leading provider of technology and services to the
pharmaceutical, biotechnology and medical device industries,
announced today that its Board of Directors authorized the purchase
of up to an additional 10 million shares, which extends the
previously announced stock buy-back program to authorize the
repurchase of a total of 12.5 million shares. The buy-back
authorization allows the company to make purchases from time to
time on the open market at prevailing prices or in privately
negotiated transactions. eRT's management will make the purchase
decisions based upon market conditions and other considerations. As
of the current date, the company has purchased 2,005,000 shares
under this program and is now authorized to purchase up to an
additional 10,495,000 shares. Based in Philadelphia, PA,
eResearchTechnology, Inc. (http://www.ert.com/) is a provider of
technology and services to the pharmaceutical, biotechnology and
medical device industries on a global basis. The company is a
market leader in providing centralized core-diagnostic
electrocardiographic (ECG) technology and services to evaluate
cardiac safety in clinical development. The company is also a
leader in providing technology and services to streamline the
clinical trials process by enabling its customers to automate the
collection, analysis, and distribution of clinical data in all
phases of clinical development. Statements included in this release
may constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
involve a number of risks and uncertainties such as competitive
factors, technological development, market demand, and the
company's ability to obtain new contracts and accurately estimate
net revenues due to variability in size, scope and duration of
projects, and internal issues in the sponsoring client. As a
result, actual results may differ materially from any financial
outlooks stated herein. Further information on potential factors
that could affect the company's financial results can be found in
the company's Report on Form 10-K filed with the Securities and
Exchange Commission. DATASOURCE: eResearchTechnology, Inc. CONTACT:
Bruce Johnson of eResearchTechnology, +1-215-282-5580, or Matt
Hayden of Hayden Communications, +1-858-704-5065, for
eResearchTechnology Web site: http://www.ert.com/
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