NEW YORK, Nov. 7, 2013 (GLOBE NEWSWIRE) -- EXL (Nasdaq:EXLS) today announced that its Board of Directors has authorized a $25 million common stock repurchase program, effective immediately. Shares may be purchased by the Company from time to time on the open market and through private transactions.
"We have a strong balance sheet with net cash and equivalents of over $138 million as of September 30, 2013, and our business model generates strong cash flow each year," commented Rohit Kapoor, Vice Chairman and CEO of EXL. "This repurchase program demonstrates our confidence in our long-term growth outlook, while also allowing us the flexibility to engage in strategic acquisitions."
EXL (Nasdaq:EXLS) is a leading business process solutions company that looks deeper to drive business impact through integrated services and industry knowledge. EXL provides operations management, decision analytics and technology platforms to organizations in insurance, healthcare, banking and financial services, utilities, travel, and transportation and logistics, among others. We work as a strategic partner to help our clients streamline business operations, improve corporate finance, manage compliance, create new channels for growth and better adapt to change. Headquartered in New York and in business since 1999, EXL has more than 21,000 professionals in locations throughout the U.S., Europe and Asia. For more information, visit www.exlservice.com.
CONTACT: Charles Murphy, CFA Head of Investor Relations ExlService Holdings, Inc. 280 Park Avenue New York, NY 10017 (212) 624-5913 firstname.lastname@example.orgSource:ExlService Holdings, Inc.