Ciber may buy back $7.5 million in convertibles

By Angela McDaniels

Seattle, Dec. 1 - Ciber Inc. said it will purchase up to $7.5 million of convertible debt or common shares, whichever the company determines is most advantageous.

The repurchases can be made under a program authorized by the company's directors.

Ciber has purchased 1.3 million shares of common stock in open-market transactions thus far in 2005. About 500,000 of those shares have been purchased in the fourth quarter.

"Despite facing challenges in 2005, we are confident in our reinvented business model, we believe in the strength of our employees and remain positive about our future," said Mac Slingerlend, Ciber president and chief executive officer, in a company news release.

Ciber is based in Greenwood Village, Co., and provides system integration consulting services.

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