Question-and-Answer Session
Operator
Thank you, Sir. We will now begin the question and answer session. (Operator Instructions). Our first question is from Rich Ingrassia with Roth Capital Partners. Please go ahead.
Richard Ingrassia – Roth Capital Partners
Thanks. Morning, everybody. Michael, I know you announced the extension of the time frame on the buy-back, but are you also extending the size of the buy-back using some of the cash earmarked last year for the dividend?
Michael Weiner
Yes. The original buy-back which was authorized was 2 million shares. We’ve bought back approximately 800,000 shares. We have about 1.2 million shares to buy under the existing plan. So if we want to extend, if we want to increase the plan I need to go back to the board. But right now we have 1.2 million on the existing plan, which has been extended.
Richard Ingrassia – Roth Capital Partners
Okay. And has the new series to HBO at Cinemax been delivered this quarter and what’s the timing this year, if you can share it, on the direct-to-video projects for Columbia?
Grant Williams
Rich, this is Grant. The second 13-series episode has not yet been delivered. We were wrapping up the production of that during the current quarter and we’re working to deliver that in one of the next two quarters. So I think that addresses this item. As far as I think your second question related to the producer-for-hire deals, I think we mentioned we haven’t currently executed a deal for fiscal year 2009 but we continue to pursue those opportunities as we move through the year.
Richard Ingrassia – Roth Capital Partners
Okay. Grant, can you share a capex number, a number for the increased capex for fiscal 2009?
Grant Williams
You know, unfortunately, Rich, we can’t give specific guidance around our forecast amounts, but to the extent that that number continues to increase it’s probably going to be good news for the company because it’s going to mean some of these growth initiatives have been successful for us.
Richard Ingrassia – Roth Capital Partners
Okay. While I’ve got you, Grant, can you say something about the sequential increases in accounts payable in the quarter?
Grant Williams
Yeah, that increase hasn’t related to any specific transaction or item. It’s just primarily related to the company paying its vendor slower as part of its efforts to manage its cash efficiently.
Richard Ingrassia – Roth Capital Partners
- To read the full transcript on Seeking Alpha, click here »
