Zix Corporation Announces Share Repurchase Program
12 May 2015 - 9:35PM
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 $15 million of its shares of common stock from time
to time in the open market or in block purchase transactions. 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 Oct. 31, 2015.
The $10 million share repurchase program announced in January
2015 is being terminated and replaced by this new $15 million share
repurchase program.
“With a solid performance in the first quarter, a positive
outlook for the remainder of the year and a stable business model,
we believe an appropriate use of our healthy cash balance is a
larger investment in our company’s future through a new share
repurchase program," said Rick Spurr, ZixCorp’s Chief
Executive Officer.
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 ContactInvestor RelationsTodd Kehrli,
323-468-2300orJim Byers, 323-468-2300zixi@mkr-group.com
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