Perficient Inc's board authorises repurchase programme

Tue. December 23, 2008; Posted: 04:42 AM

Dec 23, 2008 (M2 EQUITYBITES via COMTEX) -- PRFT | Quote | Chart | News | PowerRating -- The board of directors of Perficient Inc (NASDAQ: PRFT), an information technology consulting firm, authorised as declared yesterday (22 December) another USD10m common stock repurchase programme. A This stock repurchase authorisation is in addition to the previously disclosed programme on 27 March 2008 and the company has repurchased 1.8m shares at a cost of USD9.2mn as per the first programme. A A trading plan has been put down as per Rule 10b5-1 of the US Securities Exchange Act of 1934, whereby it will make a portion of the repurchases. The plan allows the company to make purchases of its common stocks through the open market, whenever it considers the time appropriate in compliance with the US Securities and Exchange Commission's (SEC) Rule 10b-18, subject to market conditions, legal requirements and other factors.

This programme will run until 30 June 2010 and in that time the company's insiders are subject to a blackout from trading in the common stock. The blackout will continue until the second trading day after its next quarter earnings release or, if later, the date on which there is no material, non-public information rule that the company is aware of.

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