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Message: Possible share buyback later this year?!!!

Possible share buyback later this year?!!!

posted on Apr 16, 2008 06:11AM

FTS Chairman and Chief Executive Officer Scott Gallagher commented, "We've just reported another record year of operating results for our Company. The 2007 year end resulted in positive EBITDA, Positive Cash-Flow and Reduced Debt. In addition to the tremendous results achieved during the year, so far in 2008 we've reduced our convertible debt by more than $500K surpassing all of last year; we completed the $2 Million liquidity event with Elysium Internet (OTC BB:USBF.OB - News) increasing shareholder value considerably. And most recently we acquired IT business assets expected to be almost immediately accretive to earnings and post big gains in top line sales during 2008." Gallagher continued, "I fully expect our share price to improve in both the short and long term as a result of the convertible debt reductions and recent deal related activities. We're also exploring the possibility to initiating a share buy back sometime during the second half of the year. Right now we'll continue to use cash generated from operations to pay down our debt and grow our business."

A replay of the recent shareholder conference call is available at www.FTSGroup.com.

 

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