ARIS Corporation Authorizes Stock Repurchase Program.BELLEVUE, Wash.--(BUSINESS WIRE)--Jan. 11, 1999--ARIS Corporation (Nasdaq:ARSC ARSC Arctic Region Supercomputing Center ARSC Association for Recorded Sound Collections ARSC Accounting and Review Services Committee ARSC Aircraft Repair and Supply Center (USCG) ARSC Arizona Remote Sensing Center ), a leading provider of international IT consulting and training, announced today that its Board of Directors has authorized a share buyback program. The company intends to repurchase up to 500,000 shares of the company's common stock in open-market or negotiated transactions with the timing and terms of the purchases to be determined by management based on market conditions. The repurchased stock is expected to be used for employee benefit plans and other general corporate purposes. The company's current cash and short-term investments are approximately $12 million. "We believe that ARIS' stock is undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. ," said Paul Song, President. "We have strong positive cash flows and growth prospects, and believe that stock repurchases at these levels will benefit the company and our shareholders." ARIS ARIS American Religious Identification Survey ARIS Architecture of Integrated Information Systems ARIS Active Rack Isolation System ARIS Aggregate Route-based IP Switching ARIS Agentia Romana pentru Investitii Straine Corporation provides integrated information technology (company) Integrated Information Technology - (IIT) A Santa Clara based company producing a programmable, single chip H.261 and MPEG system. The chip contains a RISC processor, originally based on the MIPS architecture but now called RISCit, and a "Pixel Processor". solutions that enable companies and government agencies to use client/server and Internet solutions to improve their business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets . The company's consulting and training services focus primarily on leading-edge technologies from Microsoft, Oracle, Lotus, Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. and PeopleSoft. ARIS has offices across the U.S. and in the United Kingdom, with over 800 employees worldwide. Its corporate headquarters are located in Bellevue, Wash. Statements in this press release, and elsewhere, that look forward in time or include anything other than historical information, involve risks and uncertainties that may affect the company's actual results of operations. Those risks and uncertainties are discussed in more detail in the company's periodic reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. |
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