Zix Corporation Announces Share Repurchase Program
31 July 2014 - 6:15AM
Business Wire
Zix Corporation (ZixCorp), (Nasdaq: ZIXI), a leader in
email data protection, announced that its board of directors
approved a share repurchase program that enables the company to
purchase up to $10 million of its shares of common stock from time
to time in the open market. The amount and timing of specific
repurchases are subject to market conditions, applicable legal
requirements and other factors. The share purchases will be funded
from cash from operations and may be suspended or discontinued at
any time. The share repurchase program is scheduled to expire on
March 31, 2015.
“Our confidence in our business and our strong cash generation
enables us to execute another share repurchase program,” said
Rick Spurr, ZixCorp’s Chairman and Chief Executive Officer.
“We can launch this stock buyback and still have sufficient cash to
continue to invest in our business.”
About Zix Corporation
ZixCorp is a leader in email data protection. ZixCorp offers
industry-leading email encryption, a unique email DLP solution and
an innovative email BYOD solution to meet your company’s data
protection and compliance needs. ZixCorp is trusted by the nation’s
most influential institutions in healthcare, finance and government
for easy to use secure email solutions. ZixCorp is publicly traded
on the Nasdaq Global Market under the symbol ZIXI, and its
headquarters are in Dallas, Texas. For more information, visit
www.zixcorp.com.
Statements in this release that are not purely historical facts
or that necessarily depend upon future events, including statements
regarding ZixCorp's plan to repurchase a portion of its common
shares in the open market, may be forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. Readers are cautioned not to place undue reliance on
forward-looking statements. All forward-looking statements are
based upon information available to ZixCorp on the date this
release was issued. ZixCorp undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Any
forward-looking statements involve risks and uncertainties that
could cause actual events or results to differ materially from the
events or results described in the forward-looking statements,
including risks or uncertainties related to ZixCorp's overall
financial and cash generation performance, potential other uses for
ZixCorp's cash, potential limitations on repurchases, conditions in
the market for ZixCorp's stock and other corporate developments.
Further information regarding factors that could affect ZixCorp’s
ability to successfully execute its plan to repurchase a portion of
its shares of common stock can be found in the risk factors section
of ZixCorp’s most recent filing on Form 10-K with the Securities
and Exchange Commission.
ZixCorp ContactsInvestor RelationsTodd Kehrli or Jim
Byers, 323-468-2300zixi@mkr-group.comorPublic RelationsTaylor
Stansbury Johnson, 214-370-2134tjohnson@zixcorp.com
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