ANSYS, Inc. Replenishes Authorized Share Repurchase Program to Three Million Shares
25 February 2014 - 12:19AM
ANSYS, Inc. (Nasdaq:ANSS) today announced that its Board of
Directors has replenished its authorized share repurchase program
to a total of 3 million shares. This program will allow ANSYS to
continue to offset dilution and reduce shares outstanding.
"The replenishing of our stock repurchase authorization
demonstrates our continued confidence in ANSYS' long-term strategy
to generate profitable growth and strong cash flows, as well as our
commitment to share repurchases as an important element of our
capital allocation. Our first priority is to continue to invest in
the business to capitalize on growth opportunities in existing and
potential future markets around the world. At the same time, ANSYS'
solid financial performance, and the strength of our balance sheet,
gives us both the confidence and the flexibility to
opportunistically execute this share repurchase program," said Jim
Cashman, president and chief executive officer.
The repurchase program does not have an expiration date.
Share repurchases may be made by the Company from time to
time in open market transactions at prevailing market
prices. The actual timing, number and value of shares
repurchased under the program will be determined by management in
its discretion and will depend on a number of factors, including,
among others, cash requirements for acquisitions, general market
and business conditions, the trading price of the stock and
applicable legal and regulatory requirements. The Company has
no obligation to repurchase any shares under the authorization, and
the repurchase program may be suspended or modified at any time for
any reason.
In FY 2013, ANSYS repurchased 1.5 million shares of its common
stock at an average price of $77.73. In FY 2012, ANSYS repurchased
1.5 million shares of its common stock at an average price of
$63.65.
About ANSYS, Inc.
ANSYS brings clarity and insight to customers' most complex
design challenges through fast, accurate and reliable engineering
simulation. Our technology enables organizations ― no matter their
industry ― to predict with confidence that their products will
thrive in the real world. Customers trust our software to help
ensure product integrity and drive business success through
innovation. Founded in 1970, ANSYS employs approximately 2,600
professionals, many of them experts in engineering fields such as
finite element analysis, computational fluid dynamics, electronics
and electromagnetics, and design optimization. Headquartered south
of Pittsburgh, Pennsylvania, U.S.A., ANSYS has more than 75
strategic sales locations throughout the world with a network of
channel partners in 40+ countries. Visit www.ansys.com for more
information. Visit www.ansys.com for more
information. ANSYS also has a strong presence on the major
social channels. To join the simulation conversation, please
visit: www.ansys.com/Social@ANSYS
ANSS-F
CONTACT: Investors:
Annette Arribas, CTP
724.514.1782
annette.arribas@ansys.com
Media:
Jackie Mavin
724.514.3053
Jackie.mavin@ansys.com
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