Autodesk to Repurchase Shares
SAN RAFAEL, Calif., March 22 /PRNewswire/ -- Autodesk, Inc. (Nasdaq: ADSK) today announced that its Board of Directors has approved the repurchase of up to six million shares of the company's common stock. Since November 1999, Autodesk has repurchased 13.9 million shares. Autodesk(R) currently has a total of eight million shares available to repurchase including the six million announced today.
The stock will be purchased from time to time at the direction of management, either directly or through derivative instruments. The number of shares to be purchased and the timing of the purchases will be based on several factors, including general market conditions and the trading price of Autodesk common stock. Purchases may be made in the open market or in privately negotiated transactions and will be funded from available working capital.
"Autodesk's management and Board of Directors today reinforced its commitment to enhance shareholder value," said Carol Bartz, Chairman and CEO. "We are pleased to have the authority to repurchase an additional 6 million shares and believe this is an opportunity to provide significant value to our shareholders."
Any forward-looking statements in this release are necessarily subject to uncertainties based on various factors, including the level of stock issued under the company's employee stock plans, general stock market conditions, the price of Autodesk's stock, and the company's financial performance. Further information on potential factors that could affect the financial results of Autodesk are included in the Company's Report on Form 10Q for the fiscal quarter ended October 31, 2000, which are on file with the Securities and Exchange Commission.
Autodesk is the world's leading design software and digital content company for architectural design and land development, manufacturing, utilities, telecommunications, and media and entertainment. Founded in 1982, Autodesk provides design software, Internet portal services, wireless development platforms and point-of-location applications that empower more than four million customers in over 150 countries to drive business and remain competitive. For more information, contact any Authorized Autodesk Reseller, call Autodesk at 800-964-6432, or visit www.autodesk.com. Discreet(TM) product information is available at 800-869-3504 or via the Web at www.discreet.com.NOTE:
Autodesk, the Autodesk logo, and AutoCAD are registered trademarks of Autodesk, Inc. in the United States and/or certain other countries. All other brand names, product names, or trademarks are used solely for the purpose of identification and belong to their respective holders.
SOURCE Autodesk, Inc.
CONTACT: Misty Ohmart of Autodesk, Inc., 415-507-6208, or email@example.com