APLX look good now
Old news but what do you think about this company??
WESTBORO, Mass.--(BUSINESS WIRE)----Applix, Inc. (NASDAQ:APLX) announced today its Board of Directors has authorized the repurchase of up to $5 million of the Company's outstanding common stock. The Company currently has approximately 10.5 million shares outstanding at a market price of $4.75 per share based on yesterday's closing price. These shares will be purchased on the open market from time to time as market and business conditions warrant or in private transactions. "Based on current market prices, we believe that our stock is undervalued at this time and that a repurchase program is a good investment of the Company's funds", said Jit Saxena, Chairman and Chief Executive Officer.
Applix, Inc. develops, markets and supports internet-centric, front office business solutions, which allow organizations to improve decision-making and corporate productivity. The front office business solutions include a suite of thin-client Customer Relationship Management ("CRM") applications, which include the Applix Enterprise and Enterprise Anyware product lines, and a set of real-time Business Intelligence applications, which include the Applix TM1 product line. In addition, to its front office business solutions, Applix also provides a set of Decision Support applications, consisting of Applixware and Applix Anyware products. Most of the Company's products are available on a variety of software platforms, including Windows, Windows NT, UNIX and Linux environments.
With thousands of large and mid-sized companies around the world including customers such as AT&T, Bank of Nova Scotia, Blockbuster Video, Bristol-Myers Squibb, Brite Voice, British Airways, Chase Manhattan Bank, Cox Communications, Credit Suisse, Daimler Benz, Deutsche Bank, Ericsson, Harrah's, Hewlett-Packard, Kaiser Permanente, Motorola, MTV, National Football League Properties, New Holland N.A., Novartis Pharmaceuticals, Reuters, Rhone-Poulenc Rorer, Sharp Documentation Services, Siemens, Singapore Telecom, SmithKline Beecham, Sony, Sun Microsystems, U.S. Army, U.S. Department of Energy, Visa International, and Visibility, Applix is a leader in delivering Internet-centric enterprise-wide front office solutions for today's globally distributed companies. More information about the company can be found on its website: www.applix.com.
This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially. Specifically, comments related to the demand for, revenue from and acceptance of the Company's products and the Company's position in the markets, may be considered forward-looking and subject to a number of risks and uncertainties, including but not limited to: the rate of growth in market demand for the products; the acceptance of the Company's products; intense competitive conditions; rapid technological change; frequent new product introductions and evolving domestic and international standards, which may render existing products and services obsolete. Refer to the Company's Form 10-K for the year ended 1998 for a list of factors as discussed under "Risk Factors ". Applix does not undertake - and specifically declines any obligation - to publicly release the result of any revision which may be made to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
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