RADVISION Provides Update on Share Repurchase Program.TEL AVIV Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest , Israel -- RADVISION (Nasdaq: RVSN RVSN Radvision (stock symbol) RVSN Recorded Volume Serial Number (Veritas) RVSN Raketnye Voiska Strategicheskogo Naznacheniya (Russian strategic rocket forces) ), a leading provider of video network infrastructure and developer tools for unified visual communications over IP, 3G, and emerging next-generation IMS (1) See IP Multimedia Subsystem. (2) (Information Management System) An early IBM hierarchical DBMS for IBM mainframes. IMS was widely implemented throughout the 1970s under MVS and continues to be used under z/OS. networks, reported today that it has repurchased 393,578 shares of its common stock in the open market since May 8. The total amount invested by the Company for those shares was approximately $8.0 million. The repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. was made under a plan approved by the RADVISION Board of Directors and the District Court in Tel Aviv Jaffa that became effective August 3, 2006 authorizing the Company to repurchase up to $30 million but not more than 2 million shares of its common stock. To date, the Company has purchased 849,551 shares of its common stock for $15.0 million under the plan. Boaz Raviv, Chief Executive Officer, commented: "RADVISION continues to deliver record-breaking results, significant market share gains and industry-leading technology innovation. With the unified communications The real time redirection of a voice, text or e-mail message to the device closest to the intended recipient at any given time. For example, voice calls to desk phones could be routed to the user's cellphone when required. market now a commercial reality, we believe the opportunity for our Company is more promising and exciting than it has ever been." About RADVISION RADVISION (Nasdaq: RVSN) is the industry's leading provider of market-proven products and technologies for unified visual communications over IP, 3G and IMS networks. With its complete set of standards-based video networking infrastructure and developer toolkits for voice, video, data and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. , RADVISION is driving the unified communications evolution by combining the power of video, voice, data and wireless - for high definition video conferencing See videoconferencing. (communications) video conferencing - A discussion between two or more groups of people who are in different places but can see and hear each other using electronic communications. systems, innovative converged mobile services, and highly scalable video-enabled desktop platforms on IP, 3G and emerging next-generation IMS networks. For more information about RADVISION, visit www.radvision.com This press release 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. that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the industry, changes in demand for products, the timing and amount or cancellation of orders and other risks detailed from time to time in RADVISION's filings with the Securities Exchange Commission, including RADVISION's Form 20-F Annual Report. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement. |
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