Rosetta Stone : Rosetta Stone Announces $25 Million Share Repurchase Plan
Rosetta Stone Announces $25 Million Share Repurchase Plan
Program Reflects Company's Strong CashPosition, Confidence in Long-Term
ARLINGTON, VA-August 22, 2013-Rosetta Stone Inc. (NYSE:RST) announced today
that its Board of Directors has authorized a share repurchase program for up
to $25 million of its outstanding common stock over a two-year period.
"This is part of our ongoing strategy to deliver value to our
shareholders,"said Steve Swad, President and CEO of Rosetta Stone."The share
buy-back program reflects our confidence in the company's long-term business
strategy and growth plans. Going forward, we expect to fund opportunistic
share repurchases through existing cash balances and cash generated from
operations, while maintaining ample liquidity to fund operations and pursue
selective acquisition opportunities."
Under the program authorized by its Board of Directors, Rosetta Stone may
repurchase shares in the open market or through privately negotiated
transactions. The extent to which the company repurchases its shares and the
timing of such repurchases will depend upon market conditions and other
About Rosetta Stone Inc.
Rosetta Stone Inc. provides cutting-edge interactive technology that is
changing the way the world learns. The company's proprietary language-learning
techniques-acclaimed for their power to unlock the natural language-learning
ability in everyone-are used by schools, businesses, government organizations
and millions of individuals around the world. Rosetta Stone offers courses in
30 languages, from the most commonly spoken (like English, Spanish and
Mandarin) to the less prominent (including Swahili, Swedish and Tagalog). The
company was founded in 1992 on the core beliefs that learning to speak a
language should be a natural and instinctive process, and that interactive
technology can activate the language immersion method powerfully for learners
of any age. In 2013, Rosetta Stone expanded its education-technology offerings
with the acquisition of Livemocha and Lexia Learning. Rosetta Stone is based
in Arlington, VA, and has offices in Harrisonburg, VA, Boulder, CO, Austin,
TX, San Francisco, CA, Seattle, WA, Concord, MA, Tokyo, Seoul, London, Dubai
and Sao Paulo.
"Rosetta Stone" is a registered trademark or trademark of Rosetta Stone Ltd.
in the United States and other countries.
Steve Somers, CFA
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Rosetta Stone via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.