Docucorp authorizes share repurchase

In an effort to boost its stock price, Docucorp has authorized the repurchase of up to 1 million of the company's outstanding 16.5 million shares of common stock. "We believe that the current share price does not accurately reflect the strength or true value of our underlying business," said Docucorp president and CEO Michael Andereck. The company will use the repurchased stock for the exercise of warrants and employee stock options, and to fulfill portions of its employee stock purchase plan.