Reynolds and Reynolds Increases Share Repurchase Authorization
24 August 2000
Reynolds and Reynolds Increases Share Repurchase AuthorizationDAYTON, Ohio, Aug. 24 The Reynolds and Reynolds Company's board of directors has increased the company's existing share repurchase authorization by four million shares. The company now has 9.2 million shares authorized for repurchase. During its current fiscal quarter, the company has purchased 1.5 million shares. "Repurchasing shares, particularly at current prices, represents a good value and is an important element of our strategy to drive shareholder value," said David R. Holmes, chairman and CEO. Reynolds and Reynolds headquartered in Dayton, Ohio, is the leading provider of integrated information management solutions to the automotive retailing marketplace. The company's services include a full range of retail and enterprise management systems, networking and support, e-business applications, Web services, learning and consulting services, customer relationship management solutions and leasing services. To find out more about the company, it's vision, products and services, visit http://www.reyrey.com. Certain statements in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on current expectations, estimates, forecasts and projections of future company or industry performance based on management's judgment, beliefs, current trends and market conditions. Forward-looking statements made or to be made by or on behalf of the company may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed, forcasted or implied in the forward-looking statements. See also the discussion of factors that may affect future results contained in the company's Current Report on Form 8-K filed with the SEC on February 9, 2000, which we incorporate herein by reference. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.