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The stock repurchase program was initially put into effect on April 13, 2004, with a limit of $20,000,000. Repurchases may be made from time-to-time by CKE n the open market or in block purchases in compliance with Securities and Exchange Commission guidelines.
"We believe that the buy-back of our shares remains an attractive opportunity for the company, is a good investment of corporate funds and is in the best interests of our stockholders," said Andrew F. Puzder, CKE's president and CEO.
As of the end of its fiscal 2007 first quarter, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,141 franchised or company-owned restaurants in 43 states and in 13 countries, including 1,062 Carl's Jr. restaurants, 1,963 Hardee's restaurants and 100 La Salsa Fresh Mexican Grill® restaurants.