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Reply #56: Began in July of 2005 and they are already done? [View All]

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Sydnie Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-25-06 10:35 PM
Response to Reply #44
56. Began in July of 2005 and they are already done?
ChoicePoint« Announces Share Repurchase Program

ALPHARETTA, Ga. - July 26, 2005 - ChoicePoint Inc. (NYSE: CPS) announced today that its Board of Directors has approved the repurchase of up to $250 million in Company stock, based on ChoicePoint's growth and strong cash flow.
"Our strong financial performance continues to generate significant cash flow, providing us with the flexibility to invest internally in our business and make acquisitions," noted ChoicePoint Chairman and Chief Executive Officer Derek V. Smith. "With the strength of our business, we also have the opportunity to drive shareholder value by buying back our stock while investing in the growth of our business."

The company recently reported record second quarter total revenue of $266.0 million. The company also reported operating income of $58.9 million and earnings per share of $0.40. Operating cash flow increased 14 percent for the first six months of the year to $116.3 million. Net debt was approximately $69.0 million as of June 30, 2005.

The open market repurchase program will be effective ten days following the filing of the company's Form 10-Q for the period ended June 30, 2005 with the U.S. Securities and Exchange Commission. ChoicePoint has approximately 90 million common shares outstanding.


Also showing record profits -
ChoicePoint« Revenues Exceed $1 Billion in 2005

ALPHARETTA, Ga. - January 26, 2006 - ChoicePoint Inc. (NYSE: CPS) today reported record total revenue of $1.1 billion for 2005, a 15 percent increase over total revenue in 2004. Full year 2005 Earnings Per Share ("EPS") from continuing operations was $1.53, which included a $0.24 per share dilutive effect of specific expenses related to the previously disclosed fraudulent data access, a probable settlement with the Federal Trade Commission ("FTC"), and the abandonment of certain leases. Excluding these charges in 2005, EPS from continuing operations increased 9 percent for the full year 2005 over 2004.

For the fourth quarter of 2005, the Company reported total revenue of $257.9 million, representing growth of 11 percent compared to $232.5 million for the fourth quarter of 2004. EPS for the fourth quarter was $0.30 which included a $0.14 per share dilutive effect of specific expenses related to the fraudulent data access and other operating charges noted above. Excluding these charges in 2005, EPS would have been $0.44, a 2.5 percent increase over the comparable period of 2004.

In the near future, the Company expects to finalize a settlement with the FTC regarding its investigation into the Company's compliance with federal laws governing consumer information security and related issues, including the fraudulent data access which occurred last year. The Company expects the terms of the settlement to call for a civil penalty, establishment of a fund to be administered by the FTC for consumer redress initiatives, completion of certain one-time and on-going customer credentialing activities such as additional site visits, and undertaking additional obligations relating to information security. As part of this settlement, the Company does not admit to the truth of, or liability for, any of the matters alleged by the FTC.

"2005 was a milestone year for ChoicePoint as we successfully addressed a variety of challenges to deliver strong performance in our key business units. We strengthened our leadership position in high growth markets and made changes to our business model and leadership team. ChoicePoint is better positioned today to deliver value to our shareholders through helping our customers better manage economic and physical risks. Our associates stepped up to the challenges they encountered in 2005, and I am very proud of their efforts. In addition, I am pleased with our anticipated settlement with the FTC. I am confident that the proposed settlement is the right thing to do for ChoicePoint, our shareholders and consumers," noted Derek V. Smith, Chairman and Chief Executive Officer.
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