Breaking News

Norwegian Cruise to Buy Prestige Cruises for $3.03 Billion With Debt
Tweet TWEET

CorVel Announces Stock Repurchase Plan

                    CorVel Announces Stock Repurchase Plan

PR Newswire

IRVINE, Calif., Feb. 13, 2013

IRVINE, Calif., Feb. 13, 2013 /PRNewswire/ -- CorVel Corporation (the
"Company"; CRVL — NASDAQ) announced that pursuant to Board of Directors
approval, the Company entered into a pre-arranged stock trading plan on
February 11, 2013 to spend up to $11 million to repurchase shares of its
common stock commencing February 26, 2013 and continuing to June 25, 2013.
The stock trading plan will be in accordance with guidelines specified under
Rule 10b5-1 and Rule 10b-18 of the Securities and Exchange Act of 1934 and
consistent with CorVel Corporation's policies regarding stock transactions.
All bids and the amounts purchased shall at all times be consistent and
compliant with the pricing and volume limitations of Rule 10b-18.

CorVel initiated its stock repurchase program in the fall of 1996. From the
program's inception through December 31, 2012, the Company has spent $294
million to repurchase 15,507,143 shares, equal to approximately 59% of the
outstanding common stock had there been no repurchases. During the nine
months ended December 31, 2012, the Company spent $24 million to repurchase
554,042 shares of its common stock. These repurchases have been funded
primarily from net earnings. CorVel had 10,865,835 shares of common stock,
net of treasury shares, outstanding as of December 31, 2012.

About CorVel
CorVel Corporation is a national provider of industry-leading workers'
compensation solutions for employers, third party administrators, insurance
companies, and government agencies seeking to control costs and promote
positive outcomes. We apply technology, intelligence, and a human touch to
risk management so our clients can intervene early and often and be connected
to the critical intelligence they need to proactively manage risk. With a
robust technology platform at its core, our connected solution is delivered by
a national team of associates who are committed to helping clients design and
administer programs that meet their organization's performance goals.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995
All statements included in this press release, other than statements or
characterizations of historical fact, are forward-looking statements. These
forward-looking statements are based on the Company's current expectations,
estimates and projections about the Company, management's beliefs, and certain
assumptions made by the Company, and events beyond the Company's control, all
of which are subject to change. Such forward-looking statements include, but
are not limited to, statements relating to the amount and timing of
repurchases under the Company's stock repurchase program. These
forward-looking statements are not guarantees of future results and are
subject to risks, uncertainties and assumptions that could cause the Company's
actual results to differ materially and adversely from those expressed in any
forward-looking statement.

The risks and uncertainties referred to above include, but are not limited to,
factors described in this press release and the Company's filings with the
Securities and Exchange Commission, including but not limited to "Risk
Factors" in the Company's Annual Report on Form 10-K for the year ended
March31, 2012 and the Company's Quarterly Report on Form 10Q for the quarters
ended June 30, 2012, September 30, 2012 and December 31, 2012. The
forward-looking statements in this press release speak only as of the date
they are made. The Company undertakes no obligation to revise or update
publicly any forward-looking statement for any reason.

SOURCE CorVel Corporation

Website: http://www.corvel.com
Contact: Heather Burnham, +1-949-851-1473, http://www.corvel.com
 
Press spacebar to pause and continue. Press esc to stop.