HOUSTON, Feb. 17 /PRNewswire/ -- Eagle USA Airfreight, Inc.
(Nasdaq: EUSA), today announced that its Board of Directors has authorized the
Company to continue its previously expired share repurchase program by
approving the repurchase of up to 1,000,000 shares of its outstanding common
stock. During fiscal 1999, the Company repurchased 1,045,050 shares (as
adjusted for the three-for-two stock split in August 1999). The Company's
current intention is that future repurchases will help to offset increases in
the number of shares outstanding resulting from previous and future stock
option exercises. Eagle expects such repurchases to be effected from time to
time, in the open market or in private transactions, subject to market
conditions. The Board of Directors may authorize additional repurchases of
its outstanding common stock in the future.
The statements in this press release regarding the amount of future share
repurchases and any other statements that are not historical facts are forward
looking statements. Such statements involve risks and uncertainties
including, but not limited to market conditions, the performance of the
Company's stock, the Company's financial condition and cash resources, and
other factors detailed in the Company's filings with the Securities and
Exchange Commission. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual outcomes
may vary from those indicated.
Eagle USA Airfreight, Inc. operates under the name EGL Eagle Global
Logistics. Eagle dedication to providing superior flexibility and fewer
shipping restrictions on a price competitive basis has made it a leading
provider of airfreight forwarding and other transportation and logistics
services. The Company's network of 90 terminals in nine countries features
state-of-the-art information systems designed to maximize cargo management
efficiency and customer satisfaction. The Company's shares are traded on the
NASDAQ National Market under the symbol "EUSA".
For more information about Eagle: Visit EUSA on the Internet at
http://www.eagleusa.com . Contact Eagle Investor Relations via the Internet
at mslaught@eagleusa.com. Or by telephone at 281-618-3428, Michael Slaughter,
Vice President of Investor Relations.
SOURCE Eagle USA Airfreight, Inc.
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Related links:
http://www.eagleusa.com
CONTACT:
Elijio V. Serrano, Chief Financial Officer,
281-618-3665, or Mike Slaughter, Vice-President Investor
Relations, 281-618-3428, both of Eagle USA Airfreight, Inc.
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