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Charles River Associates Expands Share Repurchase to $4.5M
Posted February 22, 2012
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BOSTON--Charles River Associates (NASDAQ: CRAI), a provider of economic, financial, and management consulting services, announced that its Board of Directors has authorized an expanded share repurchase program of up to $4.45 million of its common stock, in addition to its currently existing share repurchase program. In August 2011, the company announced that its Board of Directors authorized a share repurchase program of up to $7.5 million of its common stock. As of February 22, 2012, the ompany has repurchased 219,881 shares at a cost of approximately $4.6 million under the existing plan.
CRA will finance the existing and expanded repurchase programs with available cash. The Company may repurchase shares in open market purchases or in privately negotiated transactions in accordance with applicable insider trading and other securities laws and regulations. The timing and extent to which the Company repurchases its shares will depend upon market conditions and other corporate considerations as may be considered in the Company's sole discretion.
"CRA has the financial resources available to fund the existing and expanded share repurchase program while continuing to execute our corporate strategy," said Paul Maleh, CRA's President and CEO.
About Charles River Associates (CRA)
Charles River Associates® is a global consulting firm specializing in litigation, regulatory, and financial consulting, and management consulting. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout North America, Europe, the Middle East, and Asia. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at http://www.crai.com.
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