EXL Announces $25M Share Buyback

EXL

today announced that its Board of Directors has authorized a $25 million common stock repurchase program, effective immediately. Shares may be purchased by the Company from time to time on the open market and through private transactions. "We have a strong balance sheet with net cash and equivalents of over $138 million as of September 30, 2013, and our business model generates strong cash flow each year," commented Rohit Kapoor, Vice Chairman and CEO of EXL. "This repurchase program demonstrates our confidence in our long-term growth outlook, while also allowing us the flexibility to engage in strategic acquisitions."