Common Stock Repurchase Program

9 Months Ended

Sep. 30, 2011

Common Stock Repurchase Program

Common Stock Repurchase Program

Note 17 — Common Stock Repurchase Program

Advent’s Board has approved common stock repurchase programs authorizing management to repurchase shares of the Company’s common stock. The timing and actual number of shares subject to repurchase are at the discretion of Advent’s management and are contingent on a number of factors, including the price of Advent’s stock, Advent’s cash balances and working capital needs, general business and market conditions, regulatory requirements, and alternative investment opportunities. Repurchased shares are returned to the status of authorized and unissued shares of common stock.

On October 30, 2008, Advent’s Board authorized the repurchase of up to 6.0 million shares of the Company’s common stock. In May 2010, Advent’s Board authorized the repurchase of up to an additional 2.0 million shares of the Company’s common stock. Consistent with prior repurchase programs, there was no expiration date and repurchases could be limited or terminated at any time at the discretion of management.

The following table provides a summary of the quarterly repurchase activity during the nine months ended September 30, 2011 under the stock repurchase program approved by the Board in October 2008 and May 2010 (in thousands, except per share data):

	Total			Average
	Number			Price
	of Shares			Paid
	Purchased	Cost		Per Share
Q1 2011	—	$	—	$	—
Q2 2011	382	10,163		26.58
Q3 2011	1,861	41,419		22.26
Total	2,243	$	51,582	$	23.00

At September 30, 2011, there remained approximately 45,000 shares authorized by the Board for repurchase.