Ansoft Corporation Amends Stock Repurchase Program--Additional 1,000,000 Shares Authorized For Repurchase
02 March 2006 - 12:32AM
Business Wire
Ansoft Corporation (NASDAQ:ANST) today announced that its Board of
Directors voted to amend its existing common stock repurchase
program to permit the Company to acquire an additional 1,000,000
shares of its common stock. Under the original program approved in
1998 and amended in 2002 and 2004, the Company has purchased
approximately 2,800,000 of the 3,000,000 shares authorized for
repurchase. The repurchases may be made, from time to time, in the
open market or in privately negotiated transactions and are subject
to price and market considerations and applicable securities laws.
The extent and timing of repurchases will be at the discretion of
management and will depend upon general business and market
conditions, stock prices and the Company's cash position and
requirements going forward. Ansoft is a leading developer of
high-performance electronic design automation (EDA) software.
Engineers use Ansoft software to design state-of-the-art electronic
products, such as cellular phones, Internet access devices,
broadband networking components and systems, integrated circuits
(ICs), printed circuit boards (PCBs), automotive electronic systems
and power electronics. Ansoft markets its products worldwide
through its own direct sales force and has comprehensive
customer-support and training offices throughout North America,
Asia and Europe. This press release contains forward-looking
statements that are made pursuant to the safe harbor provisions of
the Private Securities Litigation Act of 1995. These
forward-looking statements involve risks and uncertainties about
the Company's business that are detailed from time to time in the
Company's SEC reports, including the reports on Form 10-K for the
year ended April 30, 2005. For further information regarding risks
and uncertainties associated with Ansoft's business, please refer
to the "Management's Discussion and Analysis of Financial Condition
and Results of Operations" section of Ansoft's SEC filings,
including, but not limited to, its annual report on Form 10-K and
quarterly reports on Form 10-Q, copies of which may be obtained at
Ansoft's website at www.ansoft.com/about/investor/index.cfm. All
information in this release is as of March 1, 2006. Ansoft
undertakes no duty to update any forward-looking statement to
conform the statement to actual results or changes in the Company's
expectations.
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