Jun 14 2010
PHC, Inc., d/b/a Pioneer Behavioral Health (NYSE Amex: PHC), ("Pioneer" or the "Company"), a leading provider of inpatient and outpatient behavioral health services, announced today that its Board of Directors has authorized the repurchase of up to one million shares of its Class A common stock for a one-year period commencing July 1, 2010. The Company's previous stock buyback program is scheduled to expire at the end of its fiscal year on June 30, 2010.
“The decision to extend our buyback program for another year reflects our view that the Company's fundamentals continue to improve, as demonstrated by our growing profitability, solid balance sheet, strong operations at key facilities such as Seven Hills and numerous opportunities for both organic growth and acquisitions.”
"The decision to extend our buyback program for another year reflects our view that the Company's fundamentals continue to improve, as demonstrated by our growing profitability, solid balance sheet, strong operations at key facilities such as Seven Hills and numerous opportunities for both organic growth and acquisitions."