Hub Group, Inc. Announces Stock Buy Back Plan
DOWNERS GROVE, Ill., Nov. 15 /PRNewswire-FirstCall/ -- Hub Group, Inc. (Nasdaq: HUBG) announced today that the Board of Directors has authorized the purchase of up to $75 million of its Class A common stock. This authorization expires June 30, 2009. Hub intends to make purchases from time to time as market conditions warrant. Hub intends to hold the repurchased shares in treasury for future use. This new authorization is in addition to our current $75 million authorization which had approximately $5 million remaining as of November 14.
ABOUT HUB GROUP: Hub Group, Inc. is a leading asset light freight transportation management company providing comprehensive intermodal, truck brokerage and logistics services. The Company operates through a network of over 30 offices throughout the United States, Canada and Mexico.
CERTAIN FORWARD-LOOKING STATEMENTS: Statements in this press release that are not historical, including statements about Hub Group's or management's earnings guidance, intentions, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently uncertain and subject to risks. Such statements should be viewed with caution. Actual results or experience could differ materially from the forward-looking statements as a result of many factors. Factors that could cause actual results to differ materially include the factors listed from time to time in Hub Group's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended December 31, 2006 and our reports on Form 10-Q for the quarters ended March 31, 2007, June 30, 2007 and September 30, 2007. Hub Group assumes no liability to update any such forward-looking statements.
SOURCE Hub Group, Inc. -0- 11/15/2007 /CONTACT: Amy Lisek of Hub Group, Inc., +1-630-795-2214/ CO: Hub Group, Inc. ST: Illinois IN: TRN SU: SRP GL-KQ -- AQTH022 -- 1712 11/15/2007 11:15 EST http://www.prnewswire.com