Bottomline Announces Stock Repurchase Program
PORTSMOUTH, N.H. (June 11, 2015) – Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, today announced that its Board of Directors has authorized the repurchase of one million shares of the company’s common stock, to be completed by December 31, 2015.
“We have had early success with several key initiatives which represent significant opportunities for Bottomline. We are confident these strategic initiatives will generate positive returns making the purchase of our shares at current prices attractive” said Rob Eberle, President and CEO of Bottomline Technologies.
“We continue to invest in new innovations. At the same time our strong balance sheet and cash flow allow us to return capital to shareholders as part of our overall capital allocation strategy” said Rick Booth, Chief Financial Officer.
The purchase of one million shares will be completed by December 31, 2015 through purchases on the open market or in privately negotiated transactions. The program announced today replaces the company’s existing stock repurchase program. An investor conference call will occur at 8:00 a.m. on Friday, June 12, 2015, summarizing the company’s plans for the buyback.
Conference Call Details:
Dial-In Number: U.S.: (800) 230-1059
International: (612) 332-0228
A digital replay of the conference call will be available from 10:00 a.m. on June 12, 2015 through midnight on June 25, 2015 The replay can be accessed by dialing U.S. (800) 475-6701 or International (320) 365-3844, Access Code 362271. The conference call will also be available live at www.bottomline.com. Following the call, a replay will be available on the website and will remain accessible for a period of 12 months.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements reflecting our expectations about our ability to execute on our growth plans. Any statements that are not statements of historical fact (including but not limited to statements containing the words “believes,” “plans,” “anticipates,” “expects,” “look forward”, “confident”, “estimates” and similar expressions) should be considered to be forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors including, among others, competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies' operational and financial results, refer to our Form 10-K for the fiscal year ended June 30, 2014 and the subsequently filed Form 10-Q’s and Form 8-K’s or amendments thereto. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) helps make complex business payments simple, smart, and secure. Corporations and banks rely on Bottomline for domestic and international payments, efficient cash management, automated workflows for payment processing and bill review, and state of the art fraud detection, behavioural analytics and regulatory compliance solutions. Thousands of corporations around the world benefit from Bottomline solutions. Headquartered in Portsmouth, NH, Bottomline delights customers through offices across the U.S., Europe, and Asia-Pacific. For more information visit www.bottomline.com.
Bottomline Technologies, Paymode-X and the BT logo are trademarks of Bottomline Technologies (de), Inc. which are registered in certain jurisdictions. All other brand/product names are trademarks of their respective holders.