F.Y.I. Announces Stock Repurchase Program; Board Authorizes $30 Million Plan

Apr 19, 2001, 01:00 ET from F.Y.I. Incorporated

    DALLAS, April 19 /PRNewswire/ -- F.Y.I. Incorporated (Nasdaq:   FYII), one
 of the nation's leading providers of business process outsourcing solutions,
 today announced that its Board of Directors has authorized the repurchase of
 up to $30 million of its outstanding common stock.
     Under this new program, share purchases may be made from time to time on
 the open market as market and business conditions warrant; as such, there is
 no guarantee as to the exact number of shares, if any, that will be
 repurchased.  The purchases are anticipated to be funded from available
 working capital and/or the Company's existing revolving credit facility.
 Repurchased shares will be retired and restored to the status of authorized
 but unissued shares of the Company.  As of March 31, 2001 F.Y.I. Incorporated
 had approximately 16.3 million shares of common stock outstanding.
     Barry L. Edwards, executive vice president and chief financial officer of
 F.Y.I. Incorporated said, "The Board's approval of this program reflects a
 high level of confidence in F.Y.I. Incorporated.  This plan allows us the
 flexibility to periodically acquire shares when management deems it most
 advantageous and underscores our commitment to enhancing long-term value for
 our stockholders."
 
     ABOUT F.Y.I. INCORPORATED
     F.Y.I. Incorporated is a leading, national, single-source provider of
 business process outsourcing solutions.  Headquartered in Dallas, the company
 serves clients in information-intensive industries such as healthcare, legal,
 banking, insurance, and government.  F.Y.I. was added to the S&P SmallCap 600
 Index in January 2000 and is also a component of the Russell 2000 Index.
     F.Y.I. Incorporated employs more than 10,000 people and operates in over
 40 states, Washington D.C., Puerto Rico, Mexico, and the Grenadines.  In 1999,
 and for the second straight year, F.Y.I. was recognized by Forbes Magazine as
 one of the 200 Best Small Companies, based on return on equity, sales growth,
 and EPS growth.  This follows FORTUNE magazine naming F.Y.I. as one of
 America's 100 Fastest Growing Public Companies.
     For more information about F.Y.I.'s service offerings, including case-
 study examples, visit the F.Y.I. Incorporated website at http://www.fyii.com.
     The statements in this press release, which are not historical fact, are
 forward-looking statements that involve risks and uncertainties, which could
 cause actual results to differ materially from such forward-looking
 statements.  Such risks and uncertainties include, but are not limited to, the
 risks of integrating our operating companies, of managing our rapid growth, of
 the timing and magnitude of technological advances, of the occurrences of
 future events that could diminish our existing customers' needs for our
 services, of a change in the degree to which companies continue to outsource
 business processes, as well as the risks detailed in F.Y.I. Incorporated's
 filings with the Securities and Exchange Commission, including without
 limitation, those detailed under the heading "Risk Factors" in the company's
 most recent annual report on Form 10-K.  F.Y.I. disclaims any intention or
 obligation to revise any forward-looking statements, including financial
 estimates, whether as a result of new information, future events, or
 otherwise.
 
 

SOURCE F.Y.I. Incorporated
    DALLAS, April 19 /PRNewswire/ -- F.Y.I. Incorporated (Nasdaq:   FYII), one
 of the nation's leading providers of business process outsourcing solutions,
 today announced that its Board of Directors has authorized the repurchase of
 up to $30 million of its outstanding common stock.
     Under this new program, share purchases may be made from time to time on
 the open market as market and business conditions warrant; as such, there is
 no guarantee as to the exact number of shares, if any, that will be
 repurchased.  The purchases are anticipated to be funded from available
 working capital and/or the Company's existing revolving credit facility.
 Repurchased shares will be retired and restored to the status of authorized
 but unissued shares of the Company.  As of March 31, 2001 F.Y.I. Incorporated
 had approximately 16.3 million shares of common stock outstanding.
     Barry L. Edwards, executive vice president and chief financial officer of
 F.Y.I. Incorporated said, "The Board's approval of this program reflects a
 high level of confidence in F.Y.I. Incorporated.  This plan allows us the
 flexibility to periodically acquire shares when management deems it most
 advantageous and underscores our commitment to enhancing long-term value for
 our stockholders."
 
     ABOUT F.Y.I. INCORPORATED
     F.Y.I. Incorporated is a leading, national, single-source provider of
 business process outsourcing solutions.  Headquartered in Dallas, the company
 serves clients in information-intensive industries such as healthcare, legal,
 banking, insurance, and government.  F.Y.I. was added to the S&P SmallCap 600
 Index in January 2000 and is also a component of the Russell 2000 Index.
     F.Y.I. Incorporated employs more than 10,000 people and operates in over
 40 states, Washington D.C., Puerto Rico, Mexico, and the Grenadines.  In 1999,
 and for the second straight year, F.Y.I. was recognized by Forbes Magazine as
 one of the 200 Best Small Companies, based on return on equity, sales growth,
 and EPS growth.  This follows FORTUNE magazine naming F.Y.I. as one of
 America's 100 Fastest Growing Public Companies.
     For more information about F.Y.I.'s service offerings, including case-
 study examples, visit the F.Y.I. Incorporated website at http://www.fyii.com.
     The statements in this press release, which are not historical fact, are
 forward-looking statements that involve risks and uncertainties, which could
 cause actual results to differ materially from such forward-looking
 statements.  Such risks and uncertainties include, but are not limited to, the
 risks of integrating our operating companies, of managing our rapid growth, of
 the timing and magnitude of technological advances, of the occurrences of
 future events that could diminish our existing customers' needs for our
 services, of a change in the degree to which companies continue to outsource
 business processes, as well as the risks detailed in F.Y.I. Incorporated's
 filings with the Securities and Exchange Commission, including without
 limitation, those detailed under the heading "Risk Factors" in the company's
 most recent annual report on Form 10-K.  F.Y.I. disclaims any intention or
 obligation to revise any forward-looking statements, including financial
 estimates, whether as a result of new information, future events, or
 otherwise.
 
 SOURCE  F.Y.I. Incorporated

RELATED LINKS

http://www.fyii.com