GTECH Board of Directors Authorized Repurchase of up to $100 Million of the Company's Common Stock
03 November 2004 - 12:25AM
PR Newswire (US)
GTECH Board of Directors Authorized Repurchase of up to $100
Million of the Company's Common Stock WEST GREENWICH, R.I., Nov. 2
/PRNewswire/ -- GTECH Holdings Corporation (NYSE:GTK) today
announced that its Board of Directors has authorized a new open
market share repurchase program for up to an aggregate of $100
million of the Company's outstanding Common Stock through February
25, 2006. This is in addition to the $100 million authorized by the
Board on May 14, 2004, of which approximately $9 million remained
as of September 21, 2004, when the Company reported its fiscal year
2005 second quarter earnings. It is contemplated that repurchases
will be accomplished through periodic purchases on the open market.
The extent to which the Company actually repurchases its shares and
the timing of such purchases will depend upon market conditions and
other corporate considerations. Certain statements contained in
this press release are forward looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. The Company identifies
forward looking statements by words such as "may," "will,"
"should," "could," "expect," "plan," "anticipate," "intend,"
"believe," "estimate," "continue," or similar words that refer to
the future. Such statements include, without limitation, statements
relating to the prospects and financial outlook for the Company,
which reflect management assumptions regarding: (i) the future
prospects for and stability of the lottery industry and other
businesses in which the Company is engaged or expects to be
engaged, (ii) the future operating and financial performance of the
Company (including, without limitation, expected future growth in
revenues, profit margins and earnings per share), and (iii) the
ability of the Company to retain existing business and to obtain
and retain new business. Such forward looking statements reflect
management's assessment based on information currently available,
but are not guarantees and are subject to risks and uncertainties
that could cause actual results to differ materially from those
contemplated in the forward looking statements. These risks and
uncertainties include, but are not limited to, those set forth
above, in the Company's subsequent press releases and on reports by
the Company on Forms 10-K, 10-Q and 8-K, and other reports and
filings with the Securities and Exchange Commission, as well as
risks and uncertainties respecting: (i) the potential impact of
extensive and evolving government regulations upon the Company's
business; (ii) the ability of the Company to continue to retain and
extend its existing contracts and win new contracts; (iii) the
possibility of slower than expected growth or declines in sales of
lottery and gaming goods and services by the Company or the
Company's customers; (iv) exposure to foreign currency
fluctuations; (v) risks and uncertainties inherent in doing
business in foreign jurisdictions; (vi) the relatively large
percentage of the Company's revenues attributable to a relatively
small number of the Company's customers; (vii) the possibility of
significant fluctuation of quarterly operating results; (viii) the
intensity of competition in the lottery and gaming industries; (ix)
the possibility of substantial penalties under and/or termination
of the Company's contracts; (x) the ability of the Company to
respond to technological change and to satisfy the future
technological demands of its customers; (xi) opposition to
expansion of lottery and gaming; (xii) the Company's ability to
attract and retain key employees; and (xiii) the possibility of
adverse determinations in pending legal proceedings. GTECH, a
leading global information technology company with over $1 billion
in revenues and more than 5,500 people in over 50 countries,
provides software, networks, and professional services that power
high-performance, transaction processing solutions. The Company's
core market is the lottery industry, with a growing presence in
commercial gaming technology and financial services transaction
processing. For more information about the Company, please visit
GTECH's website at http://www.gtech.com/. Contact: Robert K.
Vincent Public Affairs GTECH Corporation 401-392-7452 DATASOURCE:
GTECH Holdings Corporation CONTACT: Robert K. Vincent, Public
Affairs of GTECH Corporation, +1-401- 392-7452 Web site:
http://www.gtech.com/
Copyright
Gtech (NYSE:GTK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gtech (NYSE:GTK)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Gtech (New York Stock Exchange): 0 recent articles
More Gtech Hldgs Cp News Articles