Datalink Announces Share Repurchase Program
September 14 2015 - 9:30AM
Business Wire
Datalink (Nasdaq: DTLK), a leading provider of data center
infrastructure and services, today announced that its board of
directors has approved a share repurchase program authorizing the
repurchase of shares of its common stock in the open market or in
privately negotiated purchases, or both, at an aggregate purchase
price of up to $10 million. The timing and amount of any share
repurchases will be determined by the company’s management based on
market conditions and other factors. The share repurchase program
is expected to be completed by December 31, 2016.
“The share repurchase program is indicative of Datalink’s strong
free cash flow capabilities,” said Paul Lidsky, Datalink’s
President and CEO. “At current prices, we believe the repurchase of
our stock is a good use of funds. This program reflects our
continued commitment to building shareholder value and our
confidence in Datalink’s prospects as a leader in the growing data
center infrastructure and services industry.”
About Datalink
A complete data center solutions and services provider for
Fortune 500 and mid-tier enterprises, Datalink transforms data
centers so they become more efficient, manageable and responsive to
changing business needs. Datalink helps leverage and protect
storage, server, and network investments with a focus on long-term
value, offering a full lifecycle of services, from consulting and
design to implementation, management and support. Datalink
solutions span virtualization and consolidation, data storage and
protection, advanced networks, and business continuity. Each
delivers measurable performance gains and maximizes the business
value of IT. For more information, call 800.448.6314 or visit
www.datalink.com.
The Private Securities Litigation Reform Act of 1995 provides a
“safe harbor” for certain forward-looking statements. This press
release contains forward-looking statements, which reflect our
views regarding future events and financial performance. These
forward-looking statements are subject to certain risks and
uncertainties, including those identified below, which could cause
actual results to differ materially from historical results or
those anticipated. The words “aim,” “believe,” “expect,”
“anticipate,” “intend,” “estimate,” “should” and other expressions
which indicate future events and trends identify forward-looking
statements. Actual future results and trends may differ materially
from historical results or those anticipated depending upon a
variety of factors, many of which are included under “Risk Factors”
in our annual report on Form 10-K for our year ended December 31,
2014, including, but not limited to: the level of continuing demand
for data center solutions and services including the effects of
current economic and credit conditions and the ability of
organizations to outsource data center infrastructure-related
services to service providers such as us; the migration of
organizations to virtualized server environments, including using a
private cloud computing infrastructure; the extent to which
customers deploy disk-based backup recovery solutions; the
realization of the expected trends identified for advanced network
infrastructures; reliance by manufacturers on their data service
partners to integrate their specialized products; continued
preferred status with certain principal suppliers; competition and
pricing pressures and timing of our installations that may
adversely affect our revenues and profits; fixed employment costs
that may impact profitability if we suffer revenue shortfalls; our
ability to hire and retain key technical and sales personnel;
continued productivity of our sales personnel; our dependence on
key suppliers; our ability to adapt to rapid technological change;
success of the implementation of our enterprise resource planning
system; risks associated with integrating completed and future
acquisitions; the ability to execute our acquisition strategy;
fluctuations in our quarterly operating results; future changes in
applicable accounting rules; and volatility in our stock price.
Furthermore, our revenues for any particular quarter are not
necessarily reflected by our backlog of contracted orders, which
also may fluctuate unpredictably. We cannot assure you that we can
grow or maintain our revenue and backlog from current levels.
Additional factors that may cause actual results to differ from our
assumptions and expectations include those set forth in our most
recent filing on Form 10-K filed with the Securities and Exchange
Commission. Any forward-looking statement made by us in this press
release is based only on information currently available to us and
speaks only as of the date on which it is made. We undertake no
obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
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Datalink:Investors & Analysts:Greg Barnum, 952-279-4816Vice
President and CFOgbarnum@datalink.comorPress:Jill Schmidt PRJill
Schmidt, 847-921-1295jill@jillschmidtpr.com
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