UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
_______________________________
 
FORM 8-K
 
 CURRENT REPORT
 
 Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): September 18, 2014
 
EDGEWATER TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
 
Delaware
000-20971
71-0788538
(State or other jurisdiction of incorporation)
(Commission File No.)
(IRS Employer Identification No.)
     
200 Harvard Mill Square Suite 210
Wakefield, Massachusetts 01880
(Address of Principal Executive Offices) (Zip Code)
 
Registrant's telephone number, including area code: (781) 246-3343
 
________________________________________________________________________________
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
[   ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[   ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[   ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2-(b))
[   ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 

Item 8.01. Other Events.

On September 18, 2014, Edgewater Technology, Inc. (the "Company") announced that its Board of Directors voted to extend its common stock repurchase program through September 25, 2015. A copy of the press release issued by the Company concerning the Extended Repurchase Program is filed herewith as Exhibit 99.1 and is incorporated herein by reference in its entirety.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number

Description of Exhibit

99.1

Edgewater Technology, Inc. Press Release dated September 18, 2014.

 

 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Dated:   September 18, 2014
 
EDGEWATER TECHNOLOGY, INC.
 
By: /s/ TIMOTHY R. OAKES
Name: Timothy R. Oakes
Title: Chief Financial Officer
(Principal Financial and Accounting Officer)




Edgewater Announces Extension of $23.1 Million Stock Repurchase Program

EXHIBIT 99.1

Edgewater Announces Extension of $23.1 Million Stock Repurchase Program

WAKEFIELD, Mass., Sept. 18, 2014 (GLOBE NEWSWIRE) -- Edgewater Technology, Inc. (Nasdaq:EDGW), a leading consulting firm that brings a blend of classic and product-based consulting services to its clients, announced that its Board of Directors (the "Board") has approved an extension of the company's stock repurchase program (the "Repurchase Program") to September 25, 2015 (the "Extended Repurchase Program").

The Repurchase Program, which was originally announced in December 2007 and subsequently amended, allows for the repurchase of up to $23.1 million of the company's common stock. The Repurchase Program was scheduled to expire on September 19, 2014. The Board did not make any changes to the $23.1 million repurchase authorization. To date, Edgewater has repurchased approximately $14.0 million of its shares, leaving a remaining authorization of approximately $9.1 million.

"The Board's extension of the repurchase program highlights our continued confidence in the company's financial strength and growth outlook," said Shirley Singleton, Edgewater's chairman, president and CEO. "Our strong balance sheet and cash flow provide us with the flexibility to opportunistically repurchase shares while continuing to invest in our brands and other growth opportunities to drive value for our shareholders."

Under the Extended Repurchase Program, the company's common stock may be purchased from time-to-time on the open market or through privately negotiated transactions. The timing and amount of the purchases will be based upon market conditions, securities law considerations, and other factors. The Extended Repurchase Program does not obligate the company to acquire a specific number of shares in any period and may be modified, suspended, extended or discontinued at any time, without prior notice.

Repurchased common shares become treasury shares, a portion of which may be used to satisfy Edgewater's current and near-term requirements under its equity incentive and other benefit plans.

About Edgewater

Edgewater Technology, Inc. (Nasdaq:EDGW) is a strategic consulting firm delivering a blend of classic and product-based consulting services. Edgewater addresses the market both vertically by industry and horizontally by product and technology specialty, providing its client base with a wide range of business and technology solutions. As one of the largest IT consulting firms based in New England, the company works with clients to reduce costs, improve processes and increase revenue through the judicious use of technology. Edgewater's brand names include Edgewater Technology, Edgewater Ranzal and Edgewater Fullscope. To learn more, please visit www.edgewater.com.

CONTACT: Company Contact:
         Timothy R. Oakes
         Chief Financial Officer
         (781) 246-3343
         
         Investor Relations:
         Liolios Group, Inc.
         Cody Slach
         (949) 574-3860
         EDGW@liolios.com