Comfort Systems USA (FIX) Approves Additional 551.3k Stock Buyback

August 16, 2016 4:08 PM EDT

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Comfort Systems USA, Inc. (NYSE: FIX) announced that its board of directors has approved an amendment to the Company’s stock repurchase program to increase the shares authorized and remaining as available to purchase back up to 1,000,000 shares by authorizing the Company to acquire up to 551,310 additional shares of its outstanding common stock. The Company’s existing stock repurchase program had previously authorized the repurchase of up to 7,561,183 shares of the Company’s outstanding common stock.

Through August 11, 2016, the Company repurchased 7,112,493 shares of the Company’s common stock at an aggregate price of $89,204,333. This extension of the stock repurchase program will “top off” the plan and permit the Company to repurchase up to an additional 1,000,000 shares of its currently outstanding common stock beyond what had already been purchased as of August 11, 2016.

The share repurchases will be made from time to time at the Company’s discretion in the open market or privately negotiated transactions as permitted by securities laws and other legal requirements, and subject to market conditions and other factors. The Company expects that the share repurchases will be financed with available cash. The Company’s board of directors may modify, suspend, extend, or terminate the program at any time.

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