CommVault Announces Recent Share Repurchases
CommVault (NASDAQ: CVLT), OCEANPORT, NJ – February 10, 2014
CommVault today announced its recent share repurchases. Since reporting results for its fiscal third quarter on January 29, 2014, CommVault has repurchased approximately 740,000 shares at a cost of approximately $48 million.
N. Robert Hammer, CommVault’s chairman, president and CEO stated, “These recent share repurchases are consistent with our current policy of purchasing our shares when they are at attractive prices. We are confident about our near and long-term prospects and will remain opportunistic with share repurchases.”
The total amount available for future share repurchases is approximately $102 million thru March 2015. The company will update its share repurchases on its fiscal fourth quarter 2014 earnings call.
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A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unprecedented control over data growth, costs and risk. CommVault's Simpana® software suite of products was designed to work together seamlessly from the ground up, sharing a single code and common function set, to deliver superlative Data Protection, Archive, Replication, Search and Resource Management capabilities. More companies every day join those who have discovered the unparalleled efficiency, performance, reliability, and control only CommVault can offer. Information about CommVault is available at www.commvault.com. CommVault's corporate headquarters is located in Oceanport, New Jersey in the United States.
Safe Harbor Statement
Customers' results may differ materially from those stated herein; CommVault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding CommVault's beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. CommVault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
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