Energy Recovery’s President and CEO
Under the newly authorized repurchase program, purchases of shares of common stock may be made from time to time in the open market, or in privately negotiated transactions, in compliance with applicable state and federal securities laws. The timing and amounts of any purchases will be based on market conditions and other factors including price, regulatory requirements, and capital availability. The share buyback program does not obligate the Company to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time without prior notice.
Payment for shares repurchased under the program will be funded using the Company's cash on hand. At the end of the fourth quarter, the Company had approximately 52 million shares of common stock issued and outstanding.
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about our beliefs and opinions as to value of the Company’s securities, ability to commercialize the VorTeq, and innovation of new disruptive technologies are forward looking and involve risks and uncertainties.
Marc Cunninghamir@energyrecovery.com (713) 353-5407