magicJack VocalTec (CALL) Increases Common Buyback to $55M
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magicJack VocalTec, Ltd. (Nasdaq: CALL), announced today with increasing cash and short-term investment balances plus expected accelerating income in the future, the Board has increased the company's share repurchase program up to $55 Million in common stock. Further, the amount of options outstanding has decreased to less than 1% of shares outstanding and the company has successfully extinguished all of the preferred like equity on its balance sheet as of year end 2011. For 2012 the balance sheet will be more transparent and we expect relatively few options outstanding by the end of year. The company does not have any secured debt on its books.
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