HOUSTON, Aug. 11 /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 500,000 shares of its outstanding common
stock. The Board had previously authorized the repurchase of 1,000,000
shares, of which 563,200 shares had been repurchased as of August 11, 1999.
The Company's current intention is that future repurchases will help to offset
increases in the number of shares outstanding resulting from stock option
exercises. Eagle USA 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's 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. Its network of 78 terminals in eight 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 EUSA:
Visit EUSA on the Internet at http://www.eagleusa.com . Contact EUSA
Investor Relations via the Internet at mslaught@eagleusa.com or by telephone
at 281/618-3428, Michael Slaughter, Director of Investor Relations.
SOURCE Eagle USA Airfreight, Inc.
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Related links:
http://www.eagleusa.com
CONTACT:
Douglas A. Seckel, Chief Financial Officer,
281-618-3420, or Investor Relations, Mike Slaughter,
281-618-3428, both of Eagle USA Airfreight
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