FDP announces three-for-two stock split.MIAMI--(BUSINESS WIRE)--Nov. 12, 1996--FDP Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :FDPC FDPC Full Duplex Packet Cascading (Vtrails) FDPC Federal Data Processing Center(s) FDPC Frequency-Dependent Phase Compensation ) Tuesday announced that its board of directors approved a three-for-two stock split in which each two shares of outstanding common stock will be converted into three shares of common stock by way of a 50% stock dividend. The split will be effective on Nov. 26, 1996, for shareholders of record on that date, and payable on Dec. 10, 1996 to the shareholders of record as of the record date. The new stock price will be reflected on the NASDAQ Stock Exchange on Dec. 11, 1996. There are approximately 3,678,551 shares of common stock outstanding as of the date of this announcement. Chairman and Chief Executive Officer Michael C. Goldberg stated the following: "The board's action is a reflection of management's belief that the company has made solid progress towards becoming a dominant force in Windows-based software solutions for the insurance and employee benefit industries. The continuing acceptance of our FDP/VISION strategy as well as the explosive revenue growth in FDP/COMPASS continues to bring the company improving results. The stock split represents an opportunity for our shareholders to participate in the financial success of the company and the additional shares will increase the liquidity of the company's stock." Revenues for the company for the nine month period ended 8/31/96 reached a record high, up 30%, as compared to last year, and earnings per share increased to $.42 per share up from $.31 per share for the prior year. These increases follow a solid fiscal 1995 where earnings more than doubled to $.41 per share. (Net income per share is before restatement Restatement A revision in a company's earlier financial statements. Notes: The need for restating financial figures can result from fraud, misrepresentation, or a simple clerical error. for the three-for-two stock split.) About FDP FDP fibrin (fibrinogen) degradation product. FDP Corp. develops and sells a variety of application software systems that facilitate the sales, marketing and administration functions of life insurance companies and employee benefit administrators. FDP/VISION represents the integration of these software systems into a suite of products under the Windows 95 and Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. operating environments In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. . FDP software systems are currently sold worldwide including the United Kingdom, Australia South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , Netherlands and Canada. The publicly held (NASDAQ:FDPC) company's world headquarters are located in Miami. CONTACT: FDP Corp., Miami Mark Silverman, Chief Financial Officer 305/858-8200 |
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