Hyperion Announces $75 Million Stock Repurchase Program.
Hyperion , the leading provider of Business Performance Management software, today announced that its board of directors has authorized the company to repurchase re·pur·chase
tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es
To buy (something) again.
The act of buying something that one previously sold or owned.
Noun 1. up to $75 million of additional shares of its common stock. The company will determine the timing and amount of shares to be repurchased, based upon market conditions and other factors, and will use existing cash and short-term investments to finance the transactions. There is no fixed termination date termination date,
n See expiration date. for the repurchase program.
In July 2003, Hyperion's board authorized the company to repurchase up to $125 million of stock. The company completed the repurchase program during the March 2004 quarter, purchasing 3.8 million shares at a weighted average purchase price of $32.95.
Hyperion is the global leader in Business Performance Management software. More than 9,000 customers -- including 91 of the Fortune 100 -- rely on Hyperion software to translate strategies into plans, monitor execution and provide insight to improve financial and operational performance. Hyperion combines the most complete set of interoperable The ability for one system to communicate or work with another. See interoperability. applications with the leading Business Intelligence platform to support and create Business Performance Management solutions. A network of more than 600 partners provides the company's innovative and specialized spe·cial·ize
v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es
1. To pursue a special activity, occupation, or field of study.
2. solutions and services.
Named one of the FORTUNE 100 Best Companies to Work For 2004, Hyperion employs approximately 2,500 people in 20 countries. Distributors represent Hyperion in an additional 25 countries. Headquartered in Sunnyvale, California Sunnyvale ([sʌniveil]) is a city in Santa Clara County, California, United States. It is one of the major cities that make up the Silicon Valley. As of the 2000 census, the city population was 131,760. , Hyperion -- together with recently acquired Brio (Brio Technology, Palo Alto, CA, www.brio.com) A software company founded in 1989 and acquired by Hyperion Solutions Corporation in 2003 that specialized in enterprise analysis and reporting programs that run on several platforms. Software Inc. -- generated combined annual revenues of $612 million for the 12 months ending June 30, 2003. Hyperion is traded under the Nasdaq symbol HYSL. For more information, please visit http://www.hyperion.com/, http://www.hyperion.com/contactus or call 800-286-8000 (U.S. only).
Statements in this press release other than statements of historical fact are forward-looking statements, including, but not limited to, statements concerning expected future financial results, the potential success of anticipated product offerings, and the potential market opportunities for business performance management software. Such statements constitute anticipated outcomes and do not assure results. Actual results may differ materially from those anticipated by the forward-looking statements due to a variety of factors, including, but not limited to the company's failure to continue successful integration of the Brio business, failure to successfully drive increases in software license revenue (by both increasing sales of newer products, and limiting falloff fall·off
A reduction or decrease: a falloff in car sales.
Noun 1. falloff - a noticeable deterioration in performance or quality; "the team went into a slump"; "a gradual slack in of older product revenue), significant product quality problems, failure to successfully drive partner revenue, significant strengthening of the dollar against key European currencies, the impact of competitive products and pricing, a decline in customer demand, and technological shifts. For a more detailed discussion of factors that could affect the company's performance and cause actual results to differ materially from those anticipated in the forward-looking statements, interested parties should review the company's filings with the Securities and Exchange Commission, including the Report on Form 10-K filed on August 13, 2003 and the Report on Form 10-Q filed on May 10, 2004. The company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
NOTE: "Hyperion," the Hyperion "H" logo and Hyperion's product names are trademarks of Hyperion. References to other companies and their products use trademarks owned by the respective companies and are for reference purpose only.
CONTACT: Linda Snyder of Hyperion, +1-408-220-8405, or Linda_Snyder@hyperion.com
Web site: http://www.hyperion.com/