Docucorp (NASDAQ:DOCC)
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Docucorp International(R) (Nasdaq:DOCC), a leading
provider of Customer Communication Management (CCM) solutions,
announced today that it has expanded its existing revolving line of
credit facility with Comerica Bank to $20 million from $10 million.
The increased facility will provide Docucorp with additional
flexibility to pursue new business development opportunities, whether
through acquisitions or new product development.
Under the terms of the expanded facility, Docucorp will have the
ability to borrow up to $20 million as allowed by financial covenants.
No amounts are currently outstanding on the credit facility, which has
a maturity date of November 1, 2009.
"We are pleased to expand our relationship with Comerica as we
pursue opportunities for continued growth," said Michael D. Andereck,
president and chief executive officer, Docucorp International. "This
line of credit, combined with Docucorp's cash reserve and low debt,
will provide us with additional resources to grow the business and
pursue strategic acquisitions."
About Docucorp
Docucorp markets Customer Communication Management (CCM) solutions
via a portfolio of information software, business process outsourcing
and professional services, which enables companies to create, publish,
manage and archive complex, high-volume, personalized information
in-house or fully outsource to Docucorp. The company has an installed
base of more than 1,300 customers, including some of the largest
insurance, utility, financial services and health care organizations.
Headquartered in Dallas, Docucorp has facilities in Atlanta, Silver
Spring, Md., Bedford, N.H., and London, as well as an international
presence in the Benelux, Switzerland, Central and Eastern Europe,
Middle East and Africa regions.
Certain information contained in this news release may include
"forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements, other than
historical facts, included herein are forward-looking statements.
These statements involve risks and uncertainties, such as competition,
technological developments, loss of significant customers and the
other factors discussed in the Company's periodic reports filed with
the Securities and Exchange Commission, that could cause the Company's
actual results to differ materially from those expressed or implied by
these forward-looking statements.
Docucorp is a registered trademark of Docucorp International.
(C) 2006 Docucorp International. All Rights Reserved.
Company, organization and product names mentioned herein are
trademarks or registered trademarks of their respective owners.
Docucorp and its symbol are trademarks of Docucorp International.