NASDAQ Comp.
15.09.2008 18:58:00
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DDi Corp. Repurchases 1.2 Million Shares in Private Transactions
DDi Corp. (NASDAQ: DDIC), a leading provider of time-critical, technologically advanced printed circuit board engineering and manufacturing services, today announced that it has repurchased 1.2 million shares of its Common Stock for $6.7 million in cash in privately negotiated transactions under its announced share repurchase program. To date, the Company has repurchased 2.9 million shares for a total of $16.3 million in cash since the inception of the program in August 2007. There are currently 53,014 remaining shares authorized for repurchase under the program and approximately 19.8 million shares outstanding.
Mikel Williams, President and CEO of DDi, stated, "We have now repurchased over 12 percent of our outstanding shares and we believe this is good for long-term shareholder value and reflects our confidence in the business.”
The repurchases under the program have been and will continue to be made in open market or privately negotiated transactions, subject to market conditions, levels of cash generated from operations, cash requirements for operations and capital expenditures, applicable legal and regulatory requirements and other factors. The share repurchase authorization does not have an expiration date, and the repurchase program may be modified or discontinued at any time.
About DDi
DDi is a leading provider of time-critical, technologically advanced, electronics manufacturing services. Headquartered in Anaheim, California, DDi and its subsidiaries offer PCB engineering, fabrication and manufacturing services to leading electronics OEMs and contract manufacturers worldwide from its facilities across North America and with manufacturing partners in Asia.
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