O'Reilly Automotive, Inc. Announces Additional $500 Million Share Repurchase
SPRINGFIELD, Mo., Nov. 12, 2012 (GLOBE NEWSWIRE) -- O'Reilly Automotive, Inc.
(the "Company") (Nasdaq:ORLY), a leading retailer in the automotive
aftermarket industry, today announced that its Board of Directors approved a
resolution to increase the authorization amount under its share repurchase
program by an additional $500 million, raising the aggregate authorization
under the program to $3.0 billion.
The additional $500 million authorization is effective for a three-year
period, beginning on November 12, 2012. Stock repurchases under the program
may be made from time to time, as the Company deems appropriate, solely
through open market purchases effected through a broker dealer at prevailing
market prices, based on a variety of factors such as price, corporate
requirements and overall market conditions. There can be no assurance as to
the number of shares the Company will purchase, if any.The share repurchase
program may be increased or otherwise modified, renewed, suspended or
terminated by the Company at any time, without prior notice.
About O'Reilly Automotive, Inc.
O'Reilly Automotive, Inc. is one of the largest specialty retailers of
automotive aftermarket parts, tools, supplies, equipment and accessories in
the United States, serving both the do-it-yourself and professional service
provider markets.Founded in 1957 by the O'Reilly family, the Company operated
3,896 stores in 39 states as of September 30, 2012.
The O'Reilly Automotive, Inc. logo is available at
The Company claims the protection of the safe-harbor for forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995.You can identify these statements by forward-looking words such as
"expect," "believe," "anticipate," "should," "plan," "intend," "estimate,"
"project," "will" or similar words.In addition, statements contained within
this press release that are not historical facts are forward-looking
statements, such as statements discussing among other things, expected growth,
store development, integration and expansion strategy, business strategies,
future revenues and future performance.These forward-looking statements are
based on estimates, projections, beliefs and assumptions and are not
guarantees of future events and results.Such statements are subject to risks,
uncertainties and assumptions, including, but not limited to, competition,
product demand, the market for auto parts, the economy in general, inflation,
consumer debt levels, governmental regulations, the Company's increased debt
levels, credit ratings on the Company's public debt, the Company's ability to
hire and retain qualified employees, risks associated with the performance of
acquired businesses such as CSK Auto Corporation, weather, terrorist
activities, war and the threat of war.Actual results may materially differ
from anticipated results described or implied in these forward-looking
statements.Please refer to the "Risk Factors" section of the annual report on
Form 10-K for the year ended December 31, 2011, for additional factors that
could materially affect the Company's financial performance.The Company
undertakes no obligation to publicly update any forward-looking statements,
whether as a result of new information, future events or otherwise.
CONTACT: Investor & Media Contact
Mark Merz (417) 829-5878
O'Reilly Automotive, Inc. Logo
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