magicJack VocalTec (CALL) Announces $20M Stock Repurchase Plan

In addition to earnings, magicJack VocalTec (NASDAQ: CALL) announced that its Board of Directors has authorized a new share repurchase program under which the company may repurchase up to $20.0 million of its outstanding common stock from time to time on the open market or in privately negotiated transactions. The company's prior $100 million repurchase program, pursuant to which $91.3 million of its outstanding common stock was repurchased and $8.7 million remained authorized for repurchases has been terminated.

"We are pleased to be putting this new $20 million stock repurchase program in place. The program reflects the continued strength of our balance sheet and commitment to utilize our cash to support growth and enhance shareholder value," said Gerald Vento, President and CEO of magicJack VocalTec.

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