Business Objects to Purchase Up to One Million Shares of Its Common Stock.SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 9, 1998--Business Objects (Nasdaq:BOBJY) today announced that it has authorized a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program whereby up to one million shares of its common stock may be purchased in the open market from time to time. Thomas Weatherford, chief financial officer of Business Objects, stated that the decision was made in view of the price at which the corporation's stock has recently traded. "Based upon the current market environment, we feel that a share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program is in the best interests of our shareholders," Weatherford said. About Business Objects Business Objects is the world's leading provider of integrated enterprise decision support tools. Business Objects products provide non-technical business users with access to information stored in data warehouses, data marts, and packaged business applications. Business Objects provides a complete suite of decision support tools including query, reporting, online analytical processing Online Analytical Processing, or OLAP (IPA: /ˈoʊlæp/), is an approach to quickly provide answers to analytical queries that are multidimensional in nature. , data mining, and DSS (1) (Digital Signature Standard) A National Security Administration standard for authenticating an electronic message. See RSA and digital signature. (2) (Digital Satellite S administration for both client/server and internet environments. Business Objects has sold more than 870,000 licenses to over 6,700 organizations in more than 60 countries worldwide. Business Objects may be reached by phone at 408/953-6000 or on the worldwide web at http://www.businessobjects.com. The Company's stock is publicly traded under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors BOBJY. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion