Limelight Networks® Board of Directors Authorizes $15 Million Stock Repurchase Program
13 Febbraio 2014 - 10:06PM
Business Wire
Limelight Networks, Inc. (NASDAQ:LLNW), a global leader in
digital content delivery, today announced that its board of
directors has authorized a $15 million stock repurchase
program.
"This authorization reflects the Board of Directors’ confidence
in Limelight’s future prospects," said Pete Perrone, Chief
Financial Officer. "Limelight’s strong balance sheet allows us to
drive shareholder return while we retain enough capacity to invest
in our business."
The Board of Directors previously authorized the repurchase of a
total of $50 million in common stock under three separate
repurchase plans, the first of which was authorized in September
2011, and the last in October 2012. The last stock repurchase
program concluded in the first quarter of 2013 with repurchases of
$5.5 million.
Under the current authorization, the stock may be repurchased
periodically in the open market or through privately negotiated
transactions, in accordance with applicable securities rules
regarding issuer repurchases.
Safe-Harbor Statement
This press release contains forward-looking statements
concerning, among other things, the outlook for the Company's
revenues, net loss and stock-based compensation expenses, customer
growth, market growth, pricing pressures, expansion into additional
market segments, product and services improvements, the integration
of acquired businesses and litigation and acquisition related
expenses. Forward-looking statements represent the current judgment
and expectations of Limelight Networks and are not guarantees and
are subject to a number of risks and uncertainties that could cause
actual results to differ materially including, but not limited to,
risks and uncertainties discussed in the Company's Annual Report on
Form 10-K and other filings with the Securities and Exchange
Commission and the final review of the results and amendments and
preparation of quarterly or annual financial statements, including
consultation with our outside auditors. Accordingly, readers are
cautioned not to place undue reliance on any forward-looking
statements. The Company assumes no duty or obligation to update or
revise any forward-looking statements for any reason.
About Limelight
Limelight Networks (NASDAQ: LLNW), a global leader in
digital content delivery, empowers customers to better engage
digital audiences by enabling them to manage and deliver digital
content on any device, anywhere in the world. The Company's award
winning Limelight Orchestrate™ platform includes an integrated
suite of content delivery technology and services that helps
organizations deliver exceptional multi-screen experiences, improve
brand awareness, drive revenue, and enhance customer relationships
— all while reducing costs. For more information, please
visit www.limelight.com, read our blog, and be sure to
follow us on Twitter at www.twitter.com/llnw.
Copyright (C) 2014 Limelight Networks, Inc. All rights reserved.
All product or service names are the property of their respective
owners.
Limelight NetworksPete Perrone, 602-850-5000ir@llnw.comorfamaPR
on behalf of Limelight NetworksAmy Peterson,
617-986-5020limelight@famapr.com
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