|
BASKING RIDGE, N.J., April 28, 2005 -- Hooper Holmes, Inc. (HH) announced today, in conjunction with the Company's release of its first quarter 2005 results, the authorization of the Company's repurchase of between 1.0 and 1.5 million shares of Hooper Holmes' common stock per year. Shares may be repurchased in open market purchases or through privately negotiated transactions at such times and from time to time, with the timing and volume of such repurchases depending on market conditions and other factors. All share repurchases will be made in compliance with applicable rules and regulations and may be discontinued at any time.
Jim McNamee, Chairman, President and Chief Executive Officer of Hooper Holmes, stated, "With stock prices at the current level we believe that active repurchase of our stock is an effective way of using our strong cash position to enhance shareholder value."
Additionally, the Company announced the declaration of a quarterly dividend of $0.015 per share, payable on May 27, 2005 to shareholders of record at the close of business on May 13, 2005.
Hooper Holmes provides outsourced risk assessment services to the life insurance industry through over 265 locations nationwide and in the United Kingdom, as well as claims evaluation information services to the automobile, and workers' compensation insurance industries.
Certain information contained herein includes information that is forward-looking. The matters referred to in forward-looking statements may be affected by the risks and uncertainties involving the Company's business. These forward-looking statements are qualified in the entirety by cautionary statements contained in the Company's Securities and Exchange Commission filings. The Company disclaims any obligation to update these forward-looking statements.
Contact:
Hooper Holmes, Inc.
Fred Lash, Chief Financial Officer of Hooper Holmes, Inc.
+1-908-766-5000
Investors: John Capodanno or Lanie Marcus
Media: Sean Leous, all of Financial Dynamics
+1-212-850-5600
|