VMware Announces Authorization of Stock Repurchase Program
PALO ALTO, CA -- (Marketwired) -- 08/06/14 -- VMware, Inc. (NYSE:
VMW), the global leader in virtualization and cloud infrastructure,
today announced that its Board of Directors has authorized the
purchase of up to $1.0 billion of its Class A common stock through
the end of 2016. Stock will be purchased from time to time, in the
open market or through private transactions, subject to market
conditions. The Company expects the equity purchase program to help
partially offset dilution from its equity programs.
The new stock repurchase authorization is in addition to the
Company's ongoing $700 million stock repurchase program, originally
announced August 7, 2013.
This press release contains forward-looking statements including,
among other things, statements regarding the value of shares
repurchased through our stock repurchase programs and the duration of
such programs. Actual results could differ materially from those
projected in the forward-looking statements as a result of certain
risk factors, including but not limited to: (i) fluctuations and
volatility in our stock price; (ii) the impact of macroeconomic
conditions on customer demand, (iii) changes in our financial
condition, (iv) changes in business opportunities and priorities that
could cause us to consider alternative uses of cash, (v) fluctuations
in the level of cash held in the United States that is available for
stock repurchases and (vi) the level of proceeds from employee stock
option exercises and our employee stock purchase plan. These
forward-looking statements are based on current expectations and are
subject to uncertainties and changes in condition, significance,
value and effect as well as other risks detailed in documents filed
with the Securities and Exchange Commission, including our most
recent reports on Form 10-K and Form 10-Q and current reports on Form
8-K that we may file from time to time, which could cause actual
results to vary from expectations. VMware assumes no obligation to,
and does not currently intend to, update any such forward-looking
statements after the date of this release.
VMware is the leader in virtualization and cloud infrastructure
solutions that enable businesses to thrive in the Cloud Era.
Customers rely on VMware to help them transform the way they build,
deliver and consume Information Technology resources in a manner that
is evolutionary and based on their specific needs. With 2013 revenues
of $5.21 billion, VMware has more than 500,000 customers and 75,000
partners. The company is headquartered in Silicon Valley with offices
throughout the world and can be found online at www.vmware.com.
VMware Investor Relations
VMware Global Communications
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