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Treasury Stock
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6 Months Ended |
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Jul. 31, 2011
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| Treasury Stock |
10. Treasury Stock
On
May 26, 2010, SeaChange’s Board of Directors authorized the
repurchase of up to $20.0 million of its common stock, par value
$.01 per share, through a share repurchase program. As authorized
by the program, shares may be purchased in the open market or
through privately negotiated transactions in a manner consistent
with applicable securities laws and regulations, including pursuant
to a Rule 10b5-1 plan maintained by the Company. This share
repurchase program does not obligate the Company to acquire any
specific number of shares and may be suspended or discontinued at
any time. All repurchases are expected to be funded from the
Company’s current cash and investment balances. The timing
and amount of the shares to be repurchased will be based on market
conditions and other factors, including price, corporate and
regulatory requirements and alternative investment opportunities.
The repurchase program terminates on January 31, 2012. There
were no stock repurchases during the three months or six months
ended July 31, 2011.
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