ANSYS Replenishes Authorized Share Repurchase Program to Five Million Shares
22 February 2018 - 8:39AM
ANSYS, Inc. (NASDAQ:ANSS) today announced that its Board of
Directors has replenished its authorized share repurchase program
to an aggregate total of five 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 execute
this share repurchase program,” said Ajei Gopal, 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 2017, ANSYS repurchased 2.8 million shares of its common
stock at an average price of $122.20. In FY 2016, ANSYS repurchased
3.7 million shares of its common stock at an average price of
$90.90.
About ANSYS, Inc.
If you’ve ever seen a rocket launch, flown on an airplane,
driven a car, used a computer, touched a mobile device, crossed a
bridge, or put on wearable technology, chances are you’ve used a
product where ANSYS software played a critical role in its
creation. ANSYS is the global leader in engineering simulation. We
help the world’s most innovative companies deliver radically better
products to their customers. By offering the best and broadest
portfolio of engineering simulation software, we help them solve
the most complex design challenges and create products limited only
by imagination. Founded in 1970, ANSYS employs thousands of
professionals, many of whom are expert M.S. and Ph.D.-level
engineers in finite element analysis, computational fluid dynamics,
electronics, semiconductors, embedded software 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. To join the simulation conversation, please visit: www.ansys.com/Social@ANSYS.
Contact: |
|
Investors: |
Annette Arribas |
|
724.514.1782 |
|
annette.arribas@ansys.com |
|
|
Media: |
Amy Pietzak |
|
724.820.4367 |
|
amy.pietzak@ansys.com |
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