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Technology in Brief: Deals and deployments by financial institutions, and other news in $5M Stock Buyback LaSalle Using Zions' Software
Carreker in $5M Stock Buyback
Facing weak sales and profits, Carreker Corp. is planning to spend up to $5 million to buy back its own stock over the next six months.
John D. "Denny" Carreker, the Dallas software vendor's chairman and chief executive, said Monday in a press release that buying back the stock would enhance shareholder value.
"We believe that the stock repurchase program represents the confidence that our board of directors and management have in our business, strategy, and future," he said.
A month ago Carreker reported a net loss of $1.1 million, or 4 cents a share, for its fiscal fourth quarter, which ended Jan. 31, compared with a year-earlier profit of $1.4 million, or 6 cents a share. Its revenue fell 13%, to $28.9 million.
The announcement of the buyback plan drove Carreker's stock up 7% Monday, to $4.45 a share.
LaSalle Using Zions' Software
LaSalle Bank Corp., a unit of ABN Amro Holding NV of Amsterdam, has started using remote check-image capture and electronic clearing software from NetDeposit Inc., a unit of Zions Bancorp of Salt Lake City.
NetDeposit said last week that LaSalle, the holding company for LaSalle Bank of Chicago and Standard Federal Bank of Troy, Mich., would offer the software to corporate and merchant customers of the two banks.
A spokesman for LaSalle said it has begun a pilot test of the software with a few business customers and could offer it more widely by midyear.
