December 2007
Cambridge, MA, – Bitstream Inc., a leading software development company with core competencies in browsing, font and publishing technologies, announced that its Board of Directors has authorized a program to repurchase up to $2.5 million of the Company’s common stock.
“Bitstream’s share repurchase program reaffirms our confidence and optimism in the long-term future of the Company. The Company’s strong balance sheet and cash position allow us to implement a repurchase program while still providing capital for future developments of our product lines," states Anna Chagnon, President and Chief Executive Officer at Bitstream, Inc.
The Company intends, from time to time, as business conditions warrant, to purchase stock in the open market or through private transactions. Purchases may be increased, decreased or discontinued at any time without prior notice.
The Company’s repurchase program will be subject to certain repurchase conditions, including daily volume limitations, as provided under the applicable SEC safe harbor rules.
The repurchase program does not obligate the Company to repurchase any specific number of shares and may be suspended or terminated at any time at management’s discretion.
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