Wednesday, February 27, 2008

Lionbridge plans another $12M stock buy back

Lionbridge Technologies Inc. reports that its board of directors has approved another $12 million repurchase of Lionbridge's common stock.

The move comes after Lionbridge (Nasdaq: LIOX), a Waltham-based provider of content management and translation software, closed in January a previous $12 million stock buyback, approved by the board in September 2007.

Lionbridge announced the new 2008 buyback plan in its 2007 financial report, in which it noted a net loss of $4.2 million on revenue of $452 million. That revenue figure represents an increase of nearly 8 percent over 2006 revenue, according to the company.

In November 2007, Lionbridge reported it had entered into a deal with EMC Corp. (NYSE: EMC) of Hopkinton to connect Liondrige's Freeway translation system with EMC's Documentum content management system.