Bottomline Technologies (EPAY) Tops Q4 EPS by 7c; Approves $60M Stock Buyback Plan
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Bottomline Technologies (NASDAQ: EPAY) reported Q4 EPS of $0.37, $0.07 better than the analyst estimate of $0.30. Revenue for the quarter came in at $88.1 million versus the consensus estimate of $86.88 million.
The company also announced that its Board of Directors has authorized a share repurchase program of up to $60 million. The program was authorized on July 8, with repurchases to begin on August 30, 2016.
“We believe our stock is an attractive investment opportunity at current levels,” said Rick Booth, Chief Financial Officer. “Our strong balance sheet and predictable cash flow allows us to repurchase shares while continuing to invest in opportunities that will drive long-term growth.”
Stock repurchases may be executed pursuant to trading plans established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934 and through various means, including, without limitation, open market transactions, privately negotiated transactions or tender offers. The Stock Repurchase Program expires on July 8, 2018 and does not obligate the Company to purchase any shares. The authorization for the Stock Repurchase Program may be terminated, increased or decreased by the Company’s Board of Directors at any time.
For earnings history and earnings-related data on Bottomline Technologies (EPAY) click here.
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