EQUITY

9 Months Ended

Sep. 30, 2012

EQUITY

EQUITY

NOTE 9:               EQUITY

Share Repurchases

On June 1, 2012, our board of directors (the “Board”) authorized the repurchase, through December 31, 2013, of up to an aggregate of $35.0 million of our outstanding shares of common stock (the “2012 Share Repurchase Program”).  Repurchases may be made pursuant to the 2012 Share Repurchase Program from time to time at prevailing market prices in the open market, in block trades or in privately negotiated purchases, or any combination thereof.  Epiq may utilize one or more plans with its brokers or banks for pre-authorized purchases within defined limits pursuant to applicable laws to effect all or a portion of the repurchases.  The timing, manner, price and amount of any share repurchases under the 2012 Share Repurchase Program will be determined by the Company in its discretion and will be subject to market and economic conditions, prevailing stock prices, loan covenants, leverage objectives, applicable legal and regulatory requirements, and other factors.  On June 1, 2012, the Board also approved the termination of our previous share repurchase program authorized by the Board in October 2010 (the “2010 Share Repurchase Program”).  There were no share repurchases under the 2010 Share Repurchase Program during the third quarter of 2011.

As of September 30, 2012, we had purchased 283,980 shares of common stock under the 2012 Share Repurchase Program for approximately $3.3 million, at an average cost of $11.62 per share.  During the nine months ended September 30, 2011, we purchased 745,414 shares of common stock under the 2010 Share Repurchase Program for approximately $10.0 million, at an average cost of $13.37 per share.

We also have a policy that requires us to repurchase shares from employees to satisfy their tax withholding obligations to us triggered by the vesting of their restricted stock awards or the exercise of their stock options.  During the three months and nine months ended September 30, 2012, we repurchased 44,588 shares for approximately $0.6 million and 213,681 shares for approximately $2.6 million, respectively, to satisfy employee tax withholding obligations. During the nine months ended September 30, 2011, we repurchased 66,290 shares for approximately $0.9 million to satisfy employee tax withholding obligations upon the vesting of restricted stock awards.

Dividends

Date Declared	Per Share Amount		Record Date	Payment Date
March 1, 2012	$	0.05	April 16, 2012	May 18, 2012
May 29, 2012	$	0.065	July 16, 2012	August 17, 2012
September 5, 2012	$	0.09	November 9, 2012	November 27, 2012

On March 1, 2012, the Board declared a cash dividend of $0.05 per outstanding share of common stock, which was paid on May 18, 2012 to shareholders of record as of the close of business on April 16, 2012.

On May 29, 2012, the Board declared a cash dividend of $0.065 per share of outstanding common stock, which was paid on August 17, 2012 to shareholders of record as of the close of business on July 16, 2012.

On September 5, 2012, the Board declared a cash dividend of $0.09 per share of outstanding common stock, payable on November 27, 2012 to shareholders of record as of the close of business on November 9, 2012.  Dividends payable of approximately $3.2 million is included as a component of “Other accrued liabilities” in the Condensed Consolidated Balance Sheets at September 30, 2012.