Labor Ready Announces Stock Repurchase
25 Juli 2006 - 11:44PM
Business Wire
Labor Ready, Inc. (NYSE: LRW) today announced that its Board of
Directors has authorized the company's purchase of Labor Ready
common stock in either open market or private transactions at a
total cost of up to $50,000,000. The shares will be repurchased
from time to time as, in the opinion of management, market
conditions warrant. The Company plans to complete the repurchase
program no later than the end of the current year. As previously
announced, the company recently completed the repurchase of
approximately 2.2 million shares of Labor Ready common stock under
two previously authorized share repurchase programs. About Labor
Ready Labor Ready is an international provider of temporary
employees for manual labor, light industrial and skilled
construction jobs, operating under the brand names of Labor Ready,
Workforce, Spartan Staffing, and CLP Resources. Labor Ready's
customers are primarily small- to mid-sized businesses in the
transportation, warehousing, hospitality, landscaping,
construction, light manufacturing, retail, wholesale, facilities
and sanitation industries. Annually, Labor Ready serves
approximately 300,000 customers and puts more than 600,000 people
to work through its more than 890 branch locations in the United
States, Canada, and the United Kingdom. For additional information,
visit Labor Ready's website at www.laborready.com. Certain
statements made by Labor Ready, Inc. in this release may constitute
forward-looking statements within the meaning of the federal
securities laws. These include a statement concerning expected
commencement of repurchases under the stock repurchase plan. In
addition, when we use words such as "will," "should," "believes,"
"expects," "anticipates," "estimates" or similar expressions, we
are making forward-looking statements. While we believe any
forward-looking statements we have made are reasonable, they are
subject to risks and uncertainties, and actual results could differ
materially. These risks and uncertainties include, but are not
limited to, unexpected requirements for cash, including for
acquisitions, changes in Labor Ready's business prospects, the
market price of Labor Ready's stock, unexpected changes in the
financial market conditions, and any other factors listed or
discussed in the reports filed by Labor Ready with the Securities
and Exchange Commission under the Securities Exchange Act of 1934.
Labor Ready does not undertake, and expressly disclaims any
obligation, to update or alter its statements whether as a result
of new information, future events or otherwise, except as required
by law.
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