Interactive Data Announces Expansion of Existing Share Repurchase Program by up to One Million Shares
May 30 2006 - 9:00AM
Business Wire
Interactive Data Corporation (NYSE: IDC), a leading provider of
financial market data, analytic tools and related services to
financial institutions, active traders and individual investors,
today announced the expansion of the Company's existing one million
share buyback program by up to one million shares of its common
stock. 956,000 shares of Interactive Data common stock have been
repurchased under the existing one million share buyback program,
which was authorized in June 2005. As a result, there are now
1,044,000 shares available for repurchase under the Company's stock
buyback program. Stuart Clark, Interactive Data's president and
chief executive officer, commented, "The decision to expand our
stock buyback program reflects our confidence in the strength of
our business and in our long-term strategic direction. Expanding
our buyback program will enable us to acquire shares at attractive
prices without precluding us from examining other ways to invest
our cash to fuel our future growth and create value for
shareholders." Repurchases made under the Company's current share
buyback program will be made in the open market or in privately
negotiated transactions from time to time, subject to market
conditions and other factors and in compliance with applicable
legal requirements. Repurchases of common stock may also be made
under a Rule 10b5-1 plan, which would permit shares to be
repurchased when Interactive Data might otherwise be precluded from
doing so under insider trading laws. Interactive Data intends to
use cash on hand to fund any purchases. While the Company
anticipates completing this program within one year, it is not
obligated to acquire any particular amount of common stock as a
result of the plan, which may be suspended or discontinued at any
time. Forward-looking and Cautionary Statements This press release
contains certain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, and is
subject to the safe-harbor created by such Act and laws. These
statements include our statements related to any potential future
stock repurchase transactions, including our intention to
repurchase shares of our common stock from time to time under, and
the source of funding for, the stock buyback program as well as the
timing, nature and financial impact of any such transactions
related to the stock buyback program; and statements related to the
investment of our cash to fuel future growth and create value for
shareholders. These statements are subject to known and unknown
risks, uncertainties and other factors that may cause actual
results to be materially different from those contemplated by the
forward-looking statements. Such factors include, but are not
limited to: (i) the relative performance of the economy and the
U.S. stock markets as a whole; (ii) market price of our common
stock and other market conditions; (iii) the difficulty of
predicting our future cash needs; (iv) the nature of other
investment opportunities available to us from time to time; (v) our
operating cash flow; and (vi) and other factors identified in our
most recent Annual Report on Form 10-K and Quarterly Report on Form
10-Q filed with the Securities and Exchange Commission. We
undertake no obligation to update these forward-looking statements.
About Interactive Data Corporation Interactive Data Corporation
(NYSE: IDC) is a leading global provider of financial market data,
analytics and related services to financial institutions, active
traders and individual investors. The Company's businesses supply
time-sensitive pricing, evaluations, dividend, corporate action and
reference data for more than 3.5 million securities traded around
the world, including hard-to-value instruments. Many of the world's
best-known financial service and software companies subscribe to
the Company's services in support of their trading, analysis,
portfolio management and valuation activities. Through its
businesses, FT Interactive Data, ComStock, CMS BondEdge and
eSignal, Interactive Data has approximately 2,200 employees in
offices located throughout North America, Europe, Asia and
Australia, and is headquartered in Bedford, MA. Pearson plc (NYSE:
PSO; LSE:PSON), an international media company whose businesses
include the Financial Times Group, Pearson Education, and the
Penguin Group, owns approximately 62 percent of the outstanding
common stock of Interactive Data Corporation. For more information,
please visit www.interactivedata.com. The FT Interactive Data
business includes FT Interactive Data Corporation, a Delaware
corporation. The ComStock business includes ComStock, Inc., a New
York corporation.
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