CHARLOTTE, N.C., Jan. 14,
2016 /PRNewswire/ -- LendingTree, Inc. (NASDAQ: TREE) (the
"Company"), operator of LendingTree.com, a leading online loan
marketplace, today announced that its Board of Directors has
authorized the repurchase of up to an additional $50
million of the Company's common stock under the Company's
existing stock repurchase program. The Company previously
announced that its Board of Directors authorized the repurchase of
$10 million of the Company's common
stock in January 2010 and that it
authorized the repurchase of another $10
million of the Company's common stock in May 2014.
Share repurchases will be implemented through purchases made
from time to time in either the open market or private transactions
in compliance with applicable securities laws. The timing and
extent of the repurchases will depend upon market conditions and
other corporate considerations, as determined by the Company in its
sole discretion. The Company has sufficient cash on its
balance sheet to fund this newly authorized stock repurchase in
addition to its expected ordinary course business operations. This
stock repurchase authorization is in addition to the May
2014 $10 million repurchase program expansion, of
which approximately $7.3
million remains.
Doug Lebda, Chairman and CEO of
LendingTree said, "This repurchase program demonstrates confidence
in the strength of our business and our commitment to delivering
shareholder value. We just increased our Q4 and full year
2015 guidance beyond the top end of the prior range, and while we
haven't yet given updated guidance for 2016, the year is off to a
great start and we expect to release increased 2016
guidance at our next earnings call." The Company will
provide an update to its full-year 2016 outlook on the February 25, 2016 earnings conference call.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
The matters contained in the discussion above may be considered
to be "forward-looking statements" within the meaning of the
Securities Act of 1933 and the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of 1995.
Those statements include statements regarding the intent, belief or
current expectations or anticipations of the Company and
members of our management team. Factors currently known to
management that could cause actual results to differ materially
from those in forward-looking statements include the following:
adverse conditions in the primary and secondary mortgage markets
and in the economy, particularly interest rates; willingness of
lenders to make unsecured personal loans and purchase leads for
such products from the Company; seasonality of results; potential
liabilities to secondary market purchasers; changes in the
Company's relationships with network lenders; breaches of network
security or the misappropriation or misuse of personal consumer
information; failure to provide competitive service; failure to
maintain brand recognition; ability to attract and retain customers
in a cost-effective manner; ability to develop new products and
services and enhance existing ones; competition; allegations of
failure to comply with existing or changing laws, rules or
regulations, or to obtain and maintain required licenses; failure
of network lenders or other affiliated parties to comply with
regulatory requirements; failure to maintain the integrity of
systems and infrastructure; liabilities as a result of privacy
regulations; failure to adequately protect intellectual property
rights or allegations of infringement of intellectual property
rights; and changes in management. These and additional factors to
be considered are set forth under "Risk Factors" in our Annual
Report on Form 10-K for the period ended December 31, 2014,
our Quarterly Reports on Form 10-Q for the periods ended March
31, 2015, June 30, 2015 and
September 30, 2015 and in our
other filings with the Securities and Exchange Commission. We
undertake no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results or
expectations.
About LendingTree, Inc.
LendingTree, Inc. (NASDAQ: TREE) operates the nation's
leading online loan marketplace and provides consumers with an
array of online tools and information to help them find the best
loan for their needs. LendingTree's online marketplace
connects consumers with multiple lenders that compete for their
business, empowering consumers as they comparison-shop across a
full suite of loans and credit-based offerings. Since
inception, LendingTree has facilitated more than 55 million loan
requests. LendingTree provides consumers with access to
lenders offering home loans, home equity loans/lines of credit,
personal loans, auto loans, student loans and more. LendingTree,
Inc. is headquartered in Charlotte, NC and maintains
operations solely in the United
States. For more information, please
visit www.lendingtree.com.
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SOURCE LendingTree, Inc.