Autodesk to repurchase shares; additional two million shares to be made available.SAN RAFAEL San Rafael (săn rəfĕl`), residential city (1990 pop. 48,404), seat of Marin co., W Calif., a suburb of San Francisco on the northern shore of San Francisco Bay; inc. 1913. , Calif.--(BUSINESS WIRE)--June 27, 1995--Autodesk, Inc. today announced that its Board of Directors approved a continuation of the Company's stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program. Under the plan, the Company may repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. an additional two million shares of its Common Stock in the open market. The primary purpose of the Autodesk stock repurchase program is to help offset the dilution to earnings per share that is caused by the issuance of stock under its employee stock plans. Since Autodesk initiated its stock repurchase program in December, 1991, the Company has spent approximately $233 million to repurchase 9.5 million shares. "We are pleased at the continuation of our stock repurchase program, which we believe supports us in our long-term goal of creating shareholder value," said Carol Bartz, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Autodesk. Autodesk is the world's leading supplier of computer-aided design computer-aided design (CAD) or computer-aided design and drafting (CADD), form of automation that helps designers prepare drawings, specifications, parts lists, and other design-related elements using special graphics- and calculations-intensive (CAD) automation software and the fifth-largest PC software company. The company develops, markets, and supports a family of design automation and professional multimedia software, and component technologies for use on personal computers and workstations. A global company since its founding in 1982, Autodesk markets products in more than 115 countries and 18 languages. Autodesk shares are traded on the Nasdaq National Market under the symbol ACAD ACAD Academy ACAD Academic ACAD AutoCAD (design/drafting development software by Autodesk) ACAD Acadia National Park (US National Park Service) ACAD Atherosclerotic Coronary Artery Disease . For more information on Autodesk, please call 415-507-5000, visit our Internet Worldwide Web site (http://www.autodesk.com) or join our CompuServe(R) Forum (GO ADESK). -0- Note to Editors: Autodesk, the Autodesk logo and AutoCAD are registered trademarks of Autodesk, Inc. ACAD is a trademark of Autodesk, Inc. All other brand and product names mentioned are the service marks, trademarks or registered trademarks of their respective owners. CONTACT: Autodesk Inc. Christine Tsingos, 415/507-6704 |
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