eGain increases stock repurchase program by $20M

eGain (EGAN) approved a $20M increase in its stock repurchase program, bringing the aggregate amount eGain may purchase from $40M to $60M of its outstanding common stock. The stock repurchase program will be funded using existing cash or future cash flows. As of September 3, eGain has repurchased approximately $39.8M of shares of its common stock under its stock repurchase program, leaving approximately $0.2M of shares of its common stock available for repurchase after the increase. The stock repurchase program does not obligate eGain to acquire a specified number of shares and may be modified, suspended, or discontinued at any time at eGain’s discretion without notice.