Document Sciences Corp. to repurchase shares.SAN DIEGO--(BUSINESS WIRE)--June 2, 1997--Document Sciences (Nasdaq:DOCX), a global leader in document automation solutions, Monday announced that its board of directors has approved a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program in which up to 350,000 shares of its common stock may be repurchased from time to time. The number of the shares to be repurchased and the timing of purchases will be based on several factors, including the price of Document Sciences' stock and general market conditions. Purchases may be made in the open market or in privately negotiated transactions from time to time at management's discretion. The purchases will be funded from available working capital. Tony Domit, Document Sciences' president and chief executive officer, stated: "The decision was made in view of the prices at which the company's common stock has recently traded, which we believe does not represent the true long-term value of the company." Domit further stated that the repurchase program will also provide shares to offset dilution to earnings per share caused by the issuance of the stock under its employee stock plans. Document Sciences is a leading provider of personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. and customized publishing solutions for industries including insurance, managed health care, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , telecommunications, manufacturing/distribution, government agencies and commercial print service bureaus. The company's Autograph products and solutions enable a crucial form of communication between organizations and their customers by employing enterprise database assets to produce high-quality and cost-effective documents that can be distributed in high volume. The company is based in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , with regional sales force locations across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada and a European subsidiary in Nice, France, supporting Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). . The company also markets its products in Australia and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . At present, the company has licensed its products to more than 500 end-user customers worldwide. For more information, visit the Document Sciences website at www.docscience.com or send e-mail to marketing@docscience.com . This news release contains certain 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. . While these statements reflect management's best current judgment, they are subject to risks and uncertainties that could cause actual results to vary. These risk factors are identified in documents the company has filed with the SEC. Actual results could differ materially from those projected in such forward-looking statements. CONTACT: Document Sciences Corp., San Diego Barbara Amantea, 619/625-2000 bamantea@docscience.com |
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