Ansoft (NASDAQ:ANST)
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Ansoft Corporation (NASDAQ:ANST) today announced that
its Board of Directors voted to amend its existing common stock
repurchase program to permit the Company to acquire an additional
1,000,000 shares of its common stock. Under the original program
approved in 1998 and amended in 2002 and 2004, the Company has
purchased approximately 2,800,000 of the 3,000,000 shares authorized
for repurchase.
The repurchases may be made, from time to time, in the open market
or in privately negotiated transactions and are subject to price and
market considerations and applicable securities laws. The extent and
timing of repurchases will be at the discretion of management and will
depend upon general business and market conditions, stock prices and
the Company's cash position and requirements going forward.
Ansoft is a leading developer of high-performance electronic
design automation (EDA) software. Engineers use Ansoft software to
design state-of-the-art electronic products, such as cellular phones,
Internet access devices, broadband networking components and systems,
integrated circuits (ICs), printed circuit boards (PCBs), automotive
electronic systems and power electronics. Ansoft markets its products
worldwide through its own direct sales force and has comprehensive
customer-support and training offices throughout North America, Asia
and Europe.
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Act of 1995. These forward-looking statements involve risks
and uncertainties about the Company's business that are detailed from
time to time in the Company's SEC reports, including the reports on
Form 10-K for the year ended April 30, 2005.
For further information regarding risks and uncertainties
associated with Ansoft's business, please refer to the "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" section of Ansoft's SEC filings, including, but not
limited to, its annual report on Form 10-K and quarterly reports on
Form 10-Q, copies of which may be obtained at Ansoft's website at
www.ansoft.com/about/investor/index.cfm.
All information in this release is as of March 1, 2006. Ansoft
undertakes no duty to update any forward-looking statement to conform
the statement to actual results or changes in the Company's
expectations.