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Limelight Networks, Inc. Message Board

  • acetechinvestor acetechinvestor Jan 24, 2012 2:02 AM Flag

    Stock buyback???

    Can anyone explain to me why they are buying back the stock (even though its cheap) and not using it to grow the business and make it turn a profit?

    They are in a good position market wise - but I am trying to understand what management is doing - or if they are not up to par?



    On January 20, 2012, Limelight Networks, Inc. (the "Company") issued a press release announcing that it will report its financial results for the fourth quarter and full-year fiscal 2011 on February 13th at approximately 4:00 p.m. EST (1:00 p.m. PST). The Company also announced that it is nearing the completion of its $25 million stock buyback program, having repurchased approximately 9.7 million shares of common stock at an average price of $2.57 per share since commencement. A copy of the Company's press release is attached hereto as Exhibit 99.1 and incorporated by reference in this Item 7.01.

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