This excerpt taken from the FL 8-K filed Mar 8, 2007.
Share Repurchase Program
The Company also today announced that its Board of Directors authorized a new $300 million, 3-year share repurchase program. A total of approximately 334,000 shares were purchased in 2006 for $8 million under the Companys previous $150 million authorization.
The strength of our current financial position and expected future cash flow allow us the opportunity to consider significantly increasing the amount of cash that we return to our shareholders, stated Mr. Serra. We believe that we can increase our share repurchase program while, at the same time, continuing to execute our growth strategies and pay a meaningful shareholder dividend.
Subject to legal and contractual restrictions, the Company may make purchases of its common stock, from time to time, depending on market conditions, availability of other investment opportunities, and other factors.