Autodesk Increases Share Repurchase Program
20 September 2016 - 6:05AM
Business Wire
Autodesk, Inc. (NASDAQ:ADSK) today announced a program to
repurchase up to 30 million shares of the company's common stock,
in addition to the approximately 1.5 million shares that remained
at the end of the second quarter of fiscal 2017 under previously
announced share repurchase programs. The repurchase program
provides Autodesk with the ability to cover dilution and reduce
shares outstanding over time.
Under the share repurchase program, Autodesk may repurchase
shares from time to time through a variety of means. The share
repurchase program does not have an expiration date and the pace
and timing of repurchases will depend on factors such as cash
generation from operations, available surplus, the volume of
employee stock plan activity, cash requirements for acquisitions,
economic and market conditions, stock price and legal and
regulatory requirements.
In the first half of fiscal 2017, Autodesk repurchased
approximately 4.8 million shares of its common stock at an average
price of $56.20 per share.
Safe Harbor Statement
This press release contains forward-looking statements that
involve risks and uncertainties, including statements relating to
the share repurchase program such as the timing and amount, if any,
of shares to be purchased thereunder and the manner in which
Autodesk may effect such repurchase. There are a significant number
of factors that could cause actual results to differ materially
from statements made in this press release, including those in the
paragraphs above as well as: failure to achieve our revenue and
profitability objectives; failure to successfully manage
transitions to new business models and markets, including the
introduction of additional ratable revenue streams and our
continuing efforts to attract customers to our cloud-based
offerings and expenses related to the transition of our business
model; difficulty in predicting revenue from new businesses and the
potential impact on our financial results from changes in our
business models; general market, political, economic and business
conditions; the impact of non-cash charges on our financial
results; fluctuation in foreign currency exchange rates; the
success of our foreign currency hedging program; failure to control
our expenses; our performance in particular geographies, including
emerging economies; the ability of governments around the world to
meet their financial and debt obligations, and finance
infrastructure projects; weak or negative growth in the industries
we serve; slowing momentum in subscription billings or revenues;
difficulties encountered in integrating new or acquired businesses
and technologies; the inability to identify and realize the
anticipated benefits of acquisitions; the financial and business
condition of our reseller and distribution channels; dependence on
and the timing of large transactions; failure to achieve sufficient
sell-through in our channels for new or existing products; pricing
pressure; unexpected fluctuations in our tax rate; the timing and
degree of expected investments in growth and efficiency
opportunities; changes in the timing of product releases and
retirements; and any unanticipated accounting charges.
Further information on potential factors that could affect the
financial results of Autodesk are included in Autodesk’s Annual
Report on Form 10-K for the fiscal ended January 31, 2016 and
Quarterly Report on Form 10-Q for the quarter ended July 31, 2016,
which are on file with the U.S. Securities and Exchange Commission.
Autodesk disclaims any obligation to update the forward-looking
statements provided to reflect events that occur or circumstances
that exist after the date on which they were made.
About Autodesk
Autodesk makes software for people who make things. If you’ve
ever driven a high-performance car, admired a towering skyscraper,
used a smartphone, or watched a great film, chances are you’ve
experienced what millions of Autodesk customers are doing with our
software. Autodesk gives you the power to make anything. For more
information visit autodesk.com or follow @autodesk.
Autodesk is a registered trademark of Autodesk, Inc., and/or its
subsidiaries and/or affiliates in the USA and/or other countries.
All other brand names, product names or trademarks belong to their
respective holders. Autodesk reserves the right to alter product
and services offerings, and specifications and pricing at any time
without notice, and is not responsible for typographical or
graphical errors that may appear in this document.
© 2016 Autodesk, Inc. All rights reserved.
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version on businesswire.com: http://www.businesswire.com/news/home/20160919005222/en/
Autodesk, Inc.Investors:David Gennarelli,
415-507-6033david.gennarelli@autodesk.comorPress:Stacy Doyle,
503-707-3861stacy.doyle@autodesk.com
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