Dendrite International, Inc. Announces Stock Repurchase Program.Business Editors MORRISTOWN, N.J.--(BUSINESS WIRE)--Jan. 31, 2001 Dendrite dendrite: see nervous system; synapse. International, Inc., the leading provider of sales and marketing effectiveness Marketing Effectiveness is the function of improving how marketers go to market with the goal of optimizing their marketing spend to achieve even better results for both the short-term and long-term. Also related to Marketing ROI and Return on Marketing Investment (ROMI). solutions for the pharmaceutical industry (NASDAQ/NMS: DRTE DRTE Defence Research Telecommunications Establishment ), announced today that its Board of Directors has authorized a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program (the "Repurchase Program"). The Board of Directors authorized the repurchase of up to $20 million of its outstanding common stock over a two-year period. [pilcrow (paragraph sign)] The Company will repurchase shares on the open market or in privately negotiated transactions from time to time. Repurchases of stock will be at management's discretion, depending upon price and availability. The repurchased shares will be held as treasury shares, which may be used to satisfy Dendrite's current and near term requirements under its equity incentive and other benefit plans and for other corporate purposes. Dendrite currently has approximately 40 million shares of common stock outstanding. John Bailye Chairman and Chief Executive Officer of Dendrite International, Inc. commented, "We believe that our stock presents a very attractive investment opportunity for the Company at this time. The implementation of the Repurchase Program serves to underscore The underscore character (_) is often used to make file, field and variable names more readable when blank spaces are not allowed. For example, NOVEL_1A.DOC, FIRST_NAME and Start_Routine. (character) underscore - _, ASCII 95. our strong commitment to enhance shareholder value." ABOUT DENDRITE Dendrite International, Inc. (NASDAQ/NMS:DRTE) designs and supports technology-based knowledge systems that enhance the competitive activities of the sales forces of the world's leading pharmaceutical companies. Approximately one-third of all pharmaceutical sales representatives pharmaceutical sales representative Detailer, Drug rep Drug industry A drug company employee who regularly visits physicians and office practices, providing information on the company's products–usually putting a negative 'spin' on competitors' products. See Detailing. and their managers worldwide rely on Dendrite. www.dendrite.com Note: Dendrite is a registered trademark of Dendrite International, Inc. The foregoing contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The statements may be identified by such forward-looking terminology as "expect," "believe," "may," "will," "intend," "plan" and similar statements or variations. Such forward-looking statements are based on our current estimates and assumptions and involve certain significant risks and uncertainties, including: risks associated with and dependence on the pharmaceutical industry; fluctuations in quarterly revenues due to lengthy selling cycles, product implementation cycles, customer budget cycles, and timing of revenue recognition; dependence on major customers; successful and timely development and introduction of new products and versions; rapid technological changes; increased competition; retention of key senior managers; and unique characteristics of the consumer packaged goods Noun 1. packaged goods - groceries that are packaged for sale foodstuff, grocery - (usually plural) consumer goods sold by a grocer plural, plural form - the form of a word that is used to denote more than one industry. Other important factors, which should be considered, are included in the Company's 10-K, 10-Qs and other reports filed with the SEC. Actual results may differ materially. The Company assumes no obligation for updating any such forward-looking statements. |
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