Memorex 2007 Annual Report Download - page 47

Download and view the complete annual report

Please find page 47 of the 2007 Memorex annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 129

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129

(c) The number of shares in this column represents the number of shares repurchased as part of publicly announced pro-
grams to repurchase up to 5.0 million shares of our common stock.
(d) On April 17, 2007, our Board of Directors authorized the repurchase of 5.0 million shares of common stock. The previ-
ous share repurchase program, which had a remaining share repurchase authorization of 2.4 million shares, was can-
celled and replaced with the new authorization. During 2007, 2006 and 2005, we repurchased 3.8 million shares,
0.9 million shares and 0.5 million shares, respectively. As of December 31, 2007, we had repurchased 3.8 million
shares under the latest authorization and held, in total, 4.5 million shares of treasury stock acquired at an average
price of $25.27 per share. Authorization for repurchases of an additional 1.2 million shares remains outstanding as of
December 31, 2007. On January 28, 2008, the Board of Directors authorized a share repurchase program increasing
total outstanding authorization to 3.0 million shares of common stock. The Company’s previous authorization was can-
celled with the new authorization.
18