SPS Commerce Announces Stock Repurchase Program
November 02 2017 - 4:05PM
SPS Commerce, Inc. (NASDAQ:SPSC), a leader in retail cloud
services, today announced that its board of directors has
authorized a program to repurchase up to $50.0 million of common
stock. Under the program, purchases may be made from time to time
in the open market over the next two years. The number of shares to
be purchased and the timing of purchases will be based on the price
of the Company’s common stock, general business and market
conditions and other investment considerations and factors.
The program does not obligate the Company to repurchase any
specific number of shares and may be suspended or discontinued at
any time without prior notice. The company had 17.4 million shares
of outstanding common stock as of September 30, 2017. The
Company intends to finance the share repurchase program with cash
on hand.
About SPS Commerce
SPS Commerce perfects the power of trading partner relationships
with the industry's most broadly adopted, retail cloud services
platform. As a leader in cloud-based supply chain management
solutions, we provide proven integrations and comprehensive retail
performance analytics to thousands of customers worldwide. SPS
Commerce has achieved 67 consecutive quarters of revenue growth and
is headquartered in Minneapolis. For additional information, please
contact SPS Commerce at 866-245-8100 or visit
www.spscommerce.com.
SPS COMMERCE, SPS, SPS logo, RETAIL UNIVERSE, 1=INFINITY logo,
AS THE NETWORK GROWS, SO DOES YOUR OPPORTUNITY, INFINITE RETAIL
POWER, RETAIL UNIVERSE are marks of SPS Commerce, Inc. and
Registered in the U.S. Patent and Trademark Office. RSX,
IN:FLUENCE, and others are further marks of SPS Commerce, Inc.
These marks may be registered or otherwise protected in other
countries.
Forward-Looking StatementsThis press release
may contain forward-looking statements, including information about
management's view of SPS Commerce's future expectations, plans and
prospects, including SPS Commerce’s views related to its plans with
respect to share repurchases, involving, among other things,
uncertainties inherent in business and financial planning, within
the safe harbor provisions under The Private Securities Litigation
Reform Act of 1995. These statements involve known and unknown
risks, uncertainties and other factors which may cause the results
of SPS Commerce to be materially different than those expressed or
implied in such statements. Certain of these risk factors and
others are included in documents SPS Commerce files with the
Securities and Exchange Commission, including but not limited to,
SPS Commerce's Annual Report on Form 10-K for the year ended
December 31, 2016, as well as subsequent reports filed with the
Securities and Exchange Commission. Other unknown or unpredictable
factors also could have material adverse effects on SPS Commerce's
future results. The forward-looking statements included in this
press release are made only as of the date hereof. SPS Commerce
cannot guarantee future results, levels of activity, performance or
achievements. Accordingly, you should not place undue reliance on
these forward-looking statements. Finally, SPS Commerce expressly
disclaims any intent or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Investor RelationsThe Blueshirt GroupIrmina BlaszczykLisa
LaukkanenSPSC@blueshirtgroup.com415-217-4962
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