|
Sponsor Message |
 |
|
Date Posted: 10/1/2001
SunGard Announces Stock Repurchase Plan
WAYNE, Pa.--(BUSINESS WIRE)--Oct. 1, 2001--SunGard (NYSE:SDS - news) announced today that its board of directors authorized the Company to purchase up to $100 million of its common stock between now and October 12, 2001, or for such longer period of time as government rules allowing for repurchases with no adverse consequences under the pooling of interests provisions are extended beyond October 12, 2001.
The Securities and Exchange Commission issued these rules to facilitate the continued orderly operation of the U.S. equities markets in the wake of the September 11th attacks. The Company said that repurchases will be made in the open market, at the discretion of management. Shares purchased under the new plan will be used for the Company's employee stock option and purchase plans and other general corporate purposes.
SunGard is a global leader in integrated IT solutions and eProcessing for financial services. SunGard is also the pioneer and a leading provider of high-availability infrastructure for business continuity. With annual revenues in excess of $1 billion, SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services institutions. Visit SunGard at www.sungard.com.
``Safe Harbor'' Statement under Private Securities Litigation Reform Act of 1995
Statements in this release other than historical facts are forward-looking statements that are subject to risks and uncertainties that may change at any time and differ from actual results. Forward-looking statements include information about possible or assumed future financial results of the Company and usually contain words such as ``believes,'' ``intends,'' ``expects,'' ``anticipates,'' or similar expressions.
The Company derives most of its forward-looking statements from its operating budgets and forecasts, which are based upon many detailed assumptions. While the Company believes that its assumptions are reasonable, it cautions that there are inherent difficulties in predicting certain important factors, such as the timing and magnitude of software sales, the ramifications of the events of September 11, 2001, the effect of general economic and market issues on software and services buying decisions, the timing and scope of technological advances, the integration and performance of acquired businesses, the prospects for future acquisitions, the ability to attract and retain key personnel, and the overall condition of the financial services industry.
These factors, as and when applicable, are discussed in the Company's filings with the Securities and Exchange Commission, including its most recent Form 10-K, a copy of which may be obtained from the Company without charge.
www.sungard.com
--------------------------------------------------------------------------------
Contact:
SunGard
Michael J. Ruane, 610/341-8709
or
Madeline Hopkins, 610/341-4357
|
Email Page
|
Sponsor Message |
 |
|
|
|
|
|