Tom Rooney, Energy Recovery president and CEO, said that these share repurchases reflected their confidence in the long-term fundamentals of the California company as well as their improved financial performance projections for 2012.
“With the transition year of 2011 now behind us, we have observed a notable increase in mega-project activity around the world, evidenced through several announcements of recent awards. Accordingly, we remain confident in our strategic plan, we are committed to drive value through steadfast execution of this plan, and we are anticipating much-improved results in the second and third quarters of the current year,” said Rooney.