BUFFALO, N.Y. -- June 29, 2009 -- CTG (NASDAQ: CTGX), an
international information technology (IT) solutions and services
company, today announced that it has been added to
the Russell 3000® Index, effective after the close of
trading on Friday, June 26, 2009. CTG also announced today that it
extended a stock repurchase plan under Rule 10b5-1 of the
Securities and Exchange Commission (the "Company 10b5-1 Plan") to
facilitate the repurchase of its common stock. The Company has
approximately 0.9 million shares available for repurchase as of
June 26, 2009, under its outstanding repurchase authorizations.
The Russell 3000® Index measures the stock
performance of the largest 3,000 U.S. companies, based on total
market capitalization. Russell indexes are widely used by
investment managers and institutional investors for index funds and
as benchmarks for both passive and active investment strategies.
Based on its market capitalization, CTG is also included in the
Russell 2000® Index, which is a subset of the Russell
3000® Index and includes the smallest 2,000 companies
included in that index. Russell determines index membership by
objective market capitalization rankings, and all Russell indexes
are reconstituted annually in June to ensure that they are truly
representative of global equity markets.
"We are pleased to be added to the Russell 3000®
Index as it increases CTG's profile with the investment community
at a time when we are focused on growing our strong healthcare IT
business and capitalizing on our significant experience in
electronic medical records systems," said CTG Chairman and Chief
Executive Officer James R. Boldt. "As an active buyer of shares
under our repurchase program, we continue to believe CTG's stock is
attractively priced at recent levels. As such, we are again
extending our 10b5-1 plan as it gives us the ability to repurchase
shares during our self-imposed blackout periods prior to the
announcement of quarterly results."
The 10b5-1 plan is effective from July 9, 2009, until the day
following the Company's release of its 2009 second quarter
financial results. CTG adopted the initial 10b5-1 plan on April 5,
2007, to allow for the repurchase of shares during the time
following the close of a quarter and the announcement of quarterly
financial results when its self-imposed stock repurchase policy
does not allow for the direct purchase of shares by the Company.
Repurchases are subject to SEC regulations as well as certain
price, market, volume, and timing constraints specified in the
plan. The plan does not require that any shares be purchased.
About CTG
Backed by over 40 years' experience, CTG provides IT solutions
and services to help our clients use technology as a competitive
advantage to excel in their markets. CTG combines in-depth
understanding of our clients' businesses with a full range of
integrated offerings, best practices, and proprietary methodologies
supported by an ISO 9001:2000-certified management system. Our IT
professionals based in an international network of offices in North
America and Europe have a proven track record of delivering
high-value, industry-specific solutions. CTG serves companies in
several industries and is a leading provider of IT and business
consulting solutions to the healthcare market. CTG posts news and
other important information on the Web at www.ctg.com.
Safe
Harbor
Statement
The above-referenced presentation will contain certain
forward-looking statements concerning the Company's current
expectations as to future growth. These statements are based upon a
review of industry reports, current business conditions in the
areas where the Company does business, the availability of
qualified professional staff, the demand for the Company's
services, and other factors that involve risk and uncertainty. As
such, actual results may differ materially in response to a change
in such factors. Such forward-looking statements should be read in
conjunction with the Company's disclosures set forth in the
Company's 2008 Form 10-K, which is incorporated by reference. The
Company assumes no obligation to update the forward-looking
information contained in this release.
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