Supercuts 2009 Annual Report Download - page 71

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Table of Contents
$200.0 million on May 3, 2005, and to $300.0 million on April 26, 2007. The timing and amounts of any repurchases will depend on many
factors, including the market price of the common stock and overall market conditions. Historically, the repurchases to date have been made
primarily to eliminate the dilutive effect of shares issued in conjunction with acquisitions, restricted stock grants and stock option exercises. All
repurchased shares become authorized but unissued shares of the Company. This repurchase program has no stated expiration date. As of
June 30, 2009, 2008, and 2007, a total accumulated 6.8, 6.8, and 5.1 million shares have been repurchased for $226.5, $226.5, and
$176.5 million, respectively. As of June 30, 2009, $73.5 million remains to be spent on share repurchases under this program.
SAFE HARBOR PROVISIONS UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This annual report, as well as information included in, or incorporated by reference from, future filings by the Company with the Securities
and Exchange Commission and information contained in written material, press releases and oral statements issued by or on behalf of the
Company contains or may contain "forward-looking statements" within the meaning of the federal securities laws, including statements
concerning anticipated future events and expectations that are not historical facts. These forward-looking statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this document reflect
management's best judgment at the time they are made, but all such statements are subject to numerous risks and uncertainties, which could
cause actual results to differ materially from those expressed in or implied by the statements herein. Such forward-looking statements are often
identified herein by use of words including, but not limited to, "may," "believe," "project," "forecast," "expect," "estimate," "anticipate," and
"plan." In addition, the following factors could affect the Company's actual results and cause such results to differ materially from those
expressed in forward-looking statements. These factors include competition within the personal hair care industry, which remains strong, both
domestically and internationally, price sensitivity; changes in economic conditions and in particular, continued weakness in the U.S. and global
economies; changes in consumer tastes and fashion trends; the ability of the Company to implement its planned spending and cost reduction plan
and to continue to maintain compliance with financial covenants in its credit agreements; labor and benefit costs; legal claims; risk inherent to
international development (including currency fluctuations); the continued ability of the Company and its franchisees to obtain suitable locations
and financing for new salon development and to maintain satisfactory relationships with landlords and other licensors with respect to existing
locations; governmental initiatives such as minimum wage rates, taxes and possible franchise legislation; the ability of the Company to
successfully identify, acquire and integrate salons that support its growth objectives; the ability of the Company to maintain satisfactory
relationships with suppliers; the ability of the Company to consummate the planned closure of salons and the related realization of the
anticipated costs, benefits and time frame; or other factors not listed above. The ability of the Company to meet its expected revenue growth is
dependent on salon acquisitions, new salon construction and same-store sales increases, all of which are affected by many of the aforementioned
risks. Additional information concerning potential factors that could affect future financial results is set forth under Item 1A of this Form 10-K.
We undertake no obligation to publicly update or revise any forward-
looking statements, whether as a result of new information, future events or
otherwise. However, your attention is directed to any further disclosures made in our subsequent annual and periodic reports filed or furnished
with the SEC on Forms 10-Q and 8-K and Proxy Statements on Schedule 14A.
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