8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934

Date of Report (Date of earliest event reported):  October 29, 2008

XETA Technologies, Inc.

 (Exact name of registrant as specified in its charter)

Oklahoma	0-16231	73-1130045
(State or other jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)
1814 West Tacoma, Broken Arrow, Oklahoma		74012
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: 918-664-8200

(Former name or address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Item 8.01  Other Information.

On October 29, 2008, the Company announced that its Board of Directors authorized a stock repurchase program under which the Company is authorized to use up to $1,000,000 to purchase shares of its outstanding common stock on the open market, in accordance with Securities and Exchange Commission rules and regulations that govern such purchases.  The Company plans to use funds from operations to finance the repurchase program.  The timing and amount of any purchases will be made as management of the Company deems appropriate based upon general market conditions and the market price of the Company’s stock, management’s assessment of the Company’s financial position and liquidity, and other relevant factors.  The program does not obligate the Company to repurchase any dollar amount or number of shares of its stock, and the program may be modified, suspended, extended or terminated at any time.

A copy of the press release announcing the repurchase program is attached as Exhibit 99.1 and incorporated herein by reference.

Item 9.01  Financial Statements and Exhibits.

(d)Exhibits

99.1—Press Release dated October 29, 2008

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	XETA Technologies, Inc.
	(Registrant)
Dated:   October 30, 2008	By	/s/ Robert B. Wagner
		Robert B. Wagner, Chief Financial Officer

2

EX-99.1

Exhibit 99.1

NEWS RELEASE

Date:	October 29, 2008
	FOR IMMEDIATE RELEASE
Contact:	Dave Mossberg
	Beacon Street Group
	817-310-0051

XETA Technologies, Inc. Announces Stock Repurchase Program

Broken Arrow, OK – XETA Technologies, Inc. (NASDAQ:XETA) announced today that the Company’s Board of Directors has approved a stock repurchase program authorizing the Company to use up to $1,000,000 to repurchase its outstanding common stock.  Funding for the purchases will come primarily from funds earned from operations.  Under this program, XETA common stock may be repurchased in open market transactions in such amounts and at such prices as the Company’s management deems appropriate.  The amount and timing of the repurchases will be based on various factors, including general market conditions, the market price of XETA common stock, company-imposed black-out periods during which the Company and its insiders are prohibited from trading in XETA common stock and management’s assessment of the Company’s financial position and liquidity.  The program does not obligate the Company to repurchase any dollar amount or number of shares of its stock, and may be modified, suspended, extended or terminated at any time.

About XETA Technologies

XETA is a leading provider of communication technologies with a comprehensive array of products and services available from industry leaders. The Company has earned and continues to maintain the industry’s most prestigious certifications as an Avaya Platinum Business Partner, Nortel Elite Advantage Partner, and Mitel premium PARTNER. Being able to provide solutions and service for these leading vendors is a unique value proposition for Fortune 1000 customers with multiple locations and complex networks. With a 26 year operating history and over 16,000 customers from coast to coast, XETA has maintained a commitment to extraordinary customer service. The Company’s in-house 24/7/365 call center, combined with a nationwide service footprint offers customers comprehensive equipment service programs that ensure network reliability and maximized network up-time. More information about XETA Technologies, Inc. (NASDAQ: XETA) is available at www.xeta.com. Click on the following link to join our e-mail alert list: http://www.b2i.us/irpass.asp?BzID=1585&to=ea&s=0.

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements (generally identified by such words as “expects,” “plans,” “believes,” “likely,” “anticipates” and similar words or expressions) reflect management’s current expectations, assumptions, and beliefs based upon information currently available to management. Investors are cautioned that all forward-looking statements are subject to certain risks and uncertainties which are difficult to predict and that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to: the U.S. economic crisis and its impact on capital spending trends in the Company’s markets; the Company’s ability to maintain and improve upon current gross profit margins; delays in installation schedule or other adverse events impacting expected revenue and gross profits from the Miami-Dade County Public School system orders; the success of the Mitel product and services offering; the Company’s ability to achieve its long-term targeted levels of profitability; the Company’s ability to acquire and retain the technical competencies needed to implement new advanced communications technologies; intense competition and industry consolidation; dependence upon a single customer for the recent growth in the Company’s Managed Services offering; and the availability and retention of revenue professionals and certified technicians. Additional factors that could affect actual results are described in Item 1.A entitled “Risk Factors” contained in Part I of the Company’s Form 10-K for its fiscal year ended October 31, 2007 and in the Company’s quarterly reports filed to date on Form 10-Q.