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8-K - FORM 8-K - ZIX CORP | d85637e8vk.htm |
Exhibit 99.1
Press Release | For Distribution |
Zix Corporation Announces Share Repurchase Program
DALLAS
Nov. 9, 2011 Zix Corporation
(ZixCorp), (Nasdaq: ZIXI), the leader in email
encryption services, announced that its board of directors approved today a share repurchase
program that enables the company to purchase up to $15 million of its shares of common stock from
time to time in the open market. The amount and timing of specific repurchases are subject to
market conditions, applicable legal requirements and other factors. The share purchases will be
funded from cash from operations and may be suspended or discontinued at any time. The share
repurchase program is scheduled to expire on June 30, 2012.
This is the second share repurchase program announced by ZixCorp in 2011. The company implemented a
share repurchase program in March 2011. It completed that program in July 2011, after
repurchasing approximately 4.29 million shares.
The boards decision to initiate an additional share repurchase program reflects our confidence in
ZixCorps predictable cash generation, said Rick Spurr, ZixCorps Chairman and Chief Executive
Officer. ZixCorp remains committed to creating long-term value for its shareholders, and were
pleased that our strong balance sheet allows us to demonstrate our confidence in ZixCorps
prospects through share repurchase programs such as this one.
About Zix Corporation
Zix Corporation (ZixCorp) provides the only email encryption services designed with your most
important relationships in mind. Many of the most influential companies and government
organizations use the proven ZixCorp® Email Encryption Services, including WellPoint,
Humana, the SEC, and more than 1,200 hospitals and 1,600 financial institutions. ZixCorp Email
Encryption Services are powered by ZixDirectorySM, the largest email encryption
community in the world. The tens of millions of ZixDirectory members can feel secure knowing their
most important relationships are protected. For more information, visit www.zixcorp.com.
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ZixCorp Contacts:
Investor Relations: Charles Messman (323) 468-2300, zixi@mkr-group.com
Public Relations: Geoff Bibby (214) 370-2241, gbibby@zixcorp.com
Zix Corporation | 2711 N. Haskell Ave. | Suite 2300, LB 36 | Dallas, TX 75204 |
phone 866 257 4949 | fax 214 370 2070 | www.zixcorp.com
Statements in this release that are not purely historical facts or that necessarily depend
upon future events, including statements regarding ZixCorps plan to repurchase a portion of its
common shares in the open market, may be forward-looking statements within the meaning of Section
21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue
reliance on forward-looking statements. All forward-looking statements are based upon information
available to ZixCorp on the date this release was issued. ZixCorp undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise. Any forward-looking statements involve risks and uncertainties that
could cause actual events or results to differ materially from the events or results described in
the forward-looking statements, including risks or uncertainties related to ZixCorps overall
financial and cash generation performance, potential other uses for ZixCorp s cash, potential
limitations on repurchases, conditions in the market for ZixCorp s stock and other corporate
developments. Further information regarding factors that could affect ZixCorps ability to
successfully execute its plan to repurchase a portion of its shares of common stock can be found in
the risk factors section of ZixCorps most recent filing on Form 10-K with the Securities and
Exchange Commission.
Zix Corporation | 2711 N. Haskell Ave. | Suite 2300, LB 36 | Dallas, TX 75204 |
phone 866 257 4949 | fax 214 370 2070 | www.zixcorp.com