Symantec (ticker: SYMC, exchange: NASDAQ Global Market (.O))
News Release -
24-Jan-2007
Symantec Authorizes $1 Billion Share Repurchase ProgramCUPERTINO, CA, Jan 24, 2007 (MARKET WIRE via COMTEX News Network) -- Symantec Corp. (NASDAQ: SYMC) today announced that its Board of
Directors has approved a $1 billion share repurchase program. This
open-ended program is effective immediately. Shares may be purchased
from time to time on the open market or in privately negotiated
transactions. Depending on market conditions and other factors, these
purchases may be commenced or suspended from time to time without
prior notice.
In January 2007, Symantec completed its $1 billion share repurchase
program announced in January 2006. Earlier in 2006, Symantec completed
the $1.5 billion share repurchase program announced in June 2006.
Over the past eight quarters, Symantec has repurchased nearly $6
billion of its shares.
About Symantec
Symantec is a global leader in infrastructure software, enabling
businesses and consumers to have confidence in a connected world. The
company helps customers protect their infrastructure, information,
and interactions by delivering software and services that address
risks to security, availability, compliance, and performance.
Headquartered in Cupertino, Calif., Symantec has operations in 40
countries. More information is available at www.symantec.com.
NOTE TO EDITORS: If you would like additional information on Symantec
Corporation and its products, please visit the Symantec News Room at
http://www.symantec.com/news. All prices noted are in US dollars and
are valid only in the United States.
Symantec and the Symantec Logo are trademarks or registered
trademarks of Symantec Corporation or its affiliates in the U.S. and
other countries. Other names may be trademarks of their respective
owners.
Forward-Looking Statements
This press release contains statements regarding our planned share
repurchase program, which may be considered forward-looking within
the meaning of the U.S. federal securities laws. These statements are
subject to known and unknown risks, uncertainties and other factors
that may cause our actual results, levels of activity, performance or
achievements to differ materially from results expressed or implied
in this press release. Such risk factors include those related to
whether or not we will complete our share repurchase program during
any particular time frame or at all and whether our cash and short
term investments may be insufficient to fund our share repurchase
program. Actual results may differ materially from those contained in
the forward-looking statements in this press release. Additional
information concerning these and other risk factors is contained in
the Risk Factors section of our Form 10-K for the year ended March
31, 2006 and our Form 10-Q for the quarter ended Sept. 30, 2006. We
assume no obligation to update any forward-looking information
contained in this press release.
MEDIA CONTACT:
Yunsun Wee
Symantec Corporation
310-449-7009
ywee@symantec.com
INVESTOR CONTACT:
Helyn Corcos
Symantec Corporation
408-517-8324
hcorcos@symantec.com
SOURCE: Symantec
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Symantec
