Zix
Corporation (ZixCorp), (Nasdaq: ZIXI), a leader in email data
protection, announced that its board of directors approved a share
repurchase program that enables the company to purchase up to $10
million of its shares of common stock from time to time in the open
market. The amount and timing of specific repurchases are subject to
market conditions, applicable legal requirements and other factors. The
share purchases will be funded from cash from operations and may be
suspended or discontinued at any time. The share repurchase program is
scheduled to expire on March 31, 2015.
“Our confidence in our business and our strong cash generation enables
us to execute another share repurchase program,” said Rick
Spurr, ZixCorp’s Chairman and Chief Executive Officer. “We can
launch this stock buyback and still have sufficient cash to continue to
invest in our business.”
About Zix Corporation
ZixCorp is a leader in email data protection. ZixCorp offers
industry-leading email encryption, a unique email DLP solution and an
innovative email BYOD solution to meet your company’s data protection
and compliance needs. ZixCorp is trusted by the nation’s most
influential institutions in healthcare, finance and government for easy
to use secure email solutions. ZixCorp is publicly traded on the Nasdaq
Global Market under the symbol ZIXI, and its headquarters are in Dallas,
Texas. For more information, visit www.zixcorp.com.
Statements in this release that are not purely historical facts or that
necessarily depend upon future events, including statements regarding
ZixCorp's plan to repurchase a portion of its common shares in the open
market, may be forward-looking statements within the meaning of Section
21E of the Securities Exchange Act of 1934, as amended. Readers are
cautioned not to place undue reliance on forward-looking statements. All
forward-looking statements are based upon information available to
ZixCorp on the date this release was issued. ZixCorp undertakes no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. Any
forward-looking statements involve risks and uncertainties that could
cause actual events or results to differ materially from the events or
results described in the forward-looking statements, including risks or
uncertainties related to ZixCorp's overall financial and cash generation
performance, potential other uses for ZixCorp's cash, potential
limitations on repurchases, conditions in the market for ZixCorp's stock
and other corporate developments. Further information regarding factors
that could affect ZixCorp’s ability to successfully execute its plan to
repurchase a portion of its shares of common stock can be found in the
risk factors section of ZixCorp’s most recent filing on Form 10-K with
the Securities and Exchange Commission.
Copyright Business Wire 2014