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Strategies & Market Trends : Position Trading Forum -- Ignore unavailable to you. Want to Upgrade?

To: Andja Miskin who wrote (6358)	11/11/1998 9:41:00 AM
From: Tim Luke	Read Replies (1) \| Respond to of 7247

Wednesday September 9, 9:58 am Eastern Time Company Press Release NewsEdge Corporation Announces Stock Repurchase Program Board Approves Repurchase of Up To 1,500,000 Shares BURLINGTON, Mass.--(BUSINESS WIRE)--Sept. 9, 1998--NewsEdge Corporation (Nasdaq:NEWZ - news) announced today that its Board of Directors has authorized the repurchase of up to 1,500,000 shares of its outstanding common stock. The purchases are to be made from time to time in the open market or through privately negotiated transactions, depending on market conditions and other factors. Purchases will be funded from available cash. As of June 30, 1998, NewsEdge had cash, cash equivalents and short-term investments of $49.1 million. As of July 31, 1998, the Company had 17.4 million shares of common stock outstanding. ''The Board of Directors believes that NewsEdge's common stock is currently undervalued and that its market price does not reflect the Company's future prospects,'' said Don McLagan, Chairman, President and CEO of NewsEdge Corporation. ''This stock repurchase program expresses our confidence in the Company's potential for future growth and reflects our commitment to enhance long term shareholder value.'' NewsEdge Corporation is a leader in global news and current awareness solutions for business. The Company's mission is to make news valuable for busy people at work. Clients at nearly 1200 organizations are provided with a powerful combination of authoritative content, a comprehensive line of technologies, customization options, editorial value-added capabilities and unparalleled client support and consulting services. NewsEdge Corporation helps business people find the most important, relevant stories from an overwhelming volume of daily news, enabling them to act on the most current information possible. NewsEdge Corporation is headquartered in Burlington, Massachusetts with sales offices throughout North America, Europe and Japan. Shares of NewsEdge Corporation are traded publicly on the NASDAQ National Market (NEWZ). For more information about NewsEdge, visit the Company's web site at newsedge.com. Certain of the above statements on the Company's future revenue and financial performance are forward-looking statements that involve risks and uncertainties. Actual results could differ materially as a result of a variety of factors, including, risks associated with acquisitions, the timely development and acceptance of new products, competitive developments, the success of relationships with third parties, and other risks factors described from time to time in the Company's SEC reports.