SOURCE: ePlus inc.

ePlus inc.

February 18, 2009 16:30 ET

ePlus Amends Stock Repurchase Program

HERNDON, VA--(Marketwire - February 18, 2009) - ePlus inc. (NASDAQ: PLUS) announced that its board of directors has amended its current share repurchase plan, which commenced August 4, 2008. The plan, as amended, has been extended through September 15, 2009, and the Company may repurchase up to 500,000 shares of ePlus' outstanding common stock beginning February 12, 2009. The purchases may be made from time to time in the open market, or in privately negotiated transactions, subject to availability. Any repurchased shares will have the status of treasury shares and may be used, when needed, for general corporate purposes.

During the three and nine months ended December 31, 2008, the Company repurchased 302,873 shares of its outstanding common stock at an average cost of $9.65 per share for a total purchase price of $2.9 million. ePlus had approximately 8.1 million shares of common stock outstanding as of December 31, 2008.

About ePlus inc.

ePlus is a leading provider of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering world-class IT products from top manufacturers, professional services, flexible lease financing, proprietary software, and patented business methods. Founded in 1990, ePlus has more than 650 associates in 20+ locations serving more than 2,500 customers. The Company is headquartered in Herndon, VA. For more information, visit http://www.eplus.com, call 888-482-1122, or email info@eplus.com.

ePlus® is a registered trademark of ePlus inc.

Statements in this press release that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from the recent financial crisis in the credit markets and general slowdown of the U.S. economy such as our current and potential customers delaying or reducing technology purchases, increasing credit risk associated with our customers and vendors, reduction of vendor incentive programs, the possibility of additional goodwill impairment charges, and restrictions on our access to capital necessary to fund our operations; the existence of demand for, and acceptance of, our services; our ability to adapt our services to meet changes in market developments; the impact of competition in our markets; a decrease in the capital spending budgets of our customers; the possibility of defects in our products or catalog content data; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this release is as of February 18, 2009. ePlus undertakes no duty to update this information.

Contact Information

  • Contact:
    Kleyton Parkhurst, SVP
    ePlus inc.
    Email Contact
    703-984-8150