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Niku Corporation (NIKU) Message Board

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  • anonyfool anonyfool Aug 16, 2001 5:28 AM Flag


    MD841, I didn't have time to listen to CC yet,thank you for some brief highlights. Any mention on how aggressive the company is on the stock buyback. TIA.

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    • anonyfool, regarding the repurchase program, from the press release, I can not tell how many shares are outstanding now or at Q end. That said, you can glean a few things from the public data. The press release gives weighted average shares for the Q which was 75,331M. Next piece of data is Q1 form 10Q filed in June which said that as of 6/2/01 there were 76,166 shares outstanding (wieghted average shares is lower than shares on 6/2/01). While it appears obvious they repurchased shares in June, you can't really tell how many (given the 75,331M is a weighted number and not the actual shares at Q end). Once they file the new 10Q (assume in about 30 days), we should be able to tell how many shares were repurchased. While I'm a bit fuzzy on the SEC rules, I don't think they have been able to purchase shares since late June.

      Given that they should be able to resume the repurchase program on Monday (FD can buy also) and my guess is they have roughly $6 or 7$ million left of the approved $10 million, I wonder if the repurchase program will put a floor under the stock so it moves up? Thats my bet.

      I looked at the tape from todays trading and it really looks like just a bunch of mom and pop retail trades giving up.

      Just my opinion.