Intervoice Inc. announced late last week that the company has completed the repurchase of three million shares of its common stock authorized by the board of directors on July 5.
The company purchased the shares in the open market and negotiated transactions between July 7 and July 13, using approximately $24,003,170 of its cash reserves.
The shares were repurchased at an average price of $8 each.
"We are pleased to complete the repurchase of common stock on the company's behalf, and believe it to be an outstanding value to our shareholders," said Dan Hammond, chairman and chief executive of Intervoice.
Intervoice Inc., headquartered in Dallas, is a global provider of call automation solutions, with 4,000 systems installed in 40 countries.