ReachLocal Announces Increase of Share Repurchase Program
WOODLAND HILLS, Calif., March 4, 2013 (GLOBE NEWSWIRE) -- ReachLocal, Inc.
(Nasdaq:RLOC), a leader in local online marketing solutions for small- and
medium-sized businesses (SMBs), today announced that its Board of Directors
has amended its previously announced share repurchase program to increase the
total authorized repurchase amount by $21 million, to a total authorization of
With this amendment, the remaining amount available for repurchase of
ReachLocal's common stock under the repurchase program is approximately $30
million. Purchases will be made from time-to-time in open market or privately
negotiated transactions as determined by ReachLocal's management. The amount
and timing of the share repurchase will depend on business and market
conditions, stock price, trading restrictions, acquisition activity, and other
factors. The repurchase program does not obligate ReachLocal to acquire any
particular amount of common stock, and the repurchase program may be suspended
or discontinued at any time at ReachLocal's discretion.
About ReachLocal, Inc.
ReachLocal, Inc. (Nasdaq:RLOC) develops online marketing and transaction
solutions that power local commerce for SMBs, from lead generation and lead
conversion to booking and buying. Our global distribution network includes
local Internet marketing consultants and service professionals, along with
select third-party agencies and resellers throughout the United States,
Canada, Australia, New Zealand, the United Kingdom, Germany, the Netherlands,
Japan, Poland, Czech Republic, Slovakia and Brazil. ReachLocal is
headquartered in Woodland Hills, Calif. Subscribe to ReachLocal's free
newsletter to receive news, tips, and other online marketing insights.
The ReachLocal, Inc. logo is available at
CONTACT: Investor Relations:
The Blueshirt Group
Alex Wellins, 818-575-6840
Jason Treu, 214-294-0307
Vice President of Public Relations
ReachLocal, Inc. Logo (UPDATED)
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