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Cerner Corporation
today announced that its board of directors approved an
amendment to its stock repurchase program on May 23, 2014, at its regularly
scheduled Board meeting, authorizing the repurchase of up to an additional
$100 million of its common stock. This expands the $217 million repurchase
program that was approved on Dec. 12, 2013, bringing the total to $317
million. The company plans to repurchase shares from time-to-time in the
open market, by block purchase, or possibly through other transactions
managed by broker-dealers. No time limit was set for completion of the
program.
"At current prices, we believe the repurchase of our stock is a good use of
funds," stated Neal Patterson, Cerner chairman, CEO and co-founder. "This
program reflects our commitment to enhancing long-term shareholder value and
our confidence in Cerner's prospects as a leader in the growing health care
industry."
About Cerner
Cerner's health information technologies connect people, information, and
systems, at approximately 14,000 facilities worldwide. Recognized for
innovation, Cerner solutions assist clinicians in making care decisions and
enable organizations to manage the health of populations. The company
provides clients with a wide range of in-house services, as well as an
integrated clinical and financial system to help organizations manage
revenue. Cerner's mission is to contribute to the systemic improvement of
health care delivery and the health of communities. Nasdaq: CERN. For more
information about Cerner, please visit www.cerner.com, check out our blog at
www.cerner.com/blog and connect with us on Twitter at www.twitter.com/cerner
and on Facebook at www.facebook.com/cerner.
Certain trademarks, service marks and logos set forth herein are property of
Cerner Corporation and/or its subsidiaries. All other non-Cerner marks are
the property of their respective owners.
This release contains forward-looking statements that involve a number of
risks and uncertainties. It is important to note that the Company's
performance, and actual results, financial condition or business could
differ materially from those expressed in such forward-looking statements.
The words "plans", "believe", or the negative of these words, variations
thereof or similar expressions are intended to identify such forward-looking
statements. Factors that could cause or contribute to such differences
include, but are not limited to: the possibility of product-related
liabilities; potential claims for system errors and warranties; the
possibility of interruption at our data centers or client support
facilities; our proprietary technology may be subject to claims for
infringement or misappropriation of intellectual property rights of others,
or may be infringed or misappropriated by others; risks associated with our
non-U.S. operations; risks associated with our ability to effectively hedge
exposure to fluctuations in foreign currency exchange rates; the potential
for tax legislation initiatives that could adversely affect our tax position
and/or challenges to our tax positions in the United States and non-U.S.
countries; risks associated with our recruitment and retention of key
personnel; risks related to our dependence on third party suppliers; risks
inherent with business acquisitions and combinations; the potential for
losses resulting from asset impairment charges; risks associated with
volatility and disruption resulting from global economic conditions;
managing growth in the new markets in which we offer solutions, health care
devices and services; changing political, economic, regulatory and judicial
influences; government regulation; significant competition and market
changes; variations in our quarterly operating results; potential
inconsistencies in our sales forecasts compared to actual sales; volatility
in the trading price of our common stock and the timing and volume of market
activity; our directors' authority to issue preferred stock and the
anti-takeover provisions in our corporate governance documents; and material
adverse resolution of legal proceedings. Additional discussion of these and
other risks, uncertainties and factors affecting the Company's business is
contained in the Company's periodic filings with the Securities and Exchange
Commission. The reader should not place undue reliance on forward-looking
statements, since the statements speak only as of the date that they are
made. The Company undertakes no obligation to update forward-looking
statements to reflect changed assumptions, the occurrence of unanticipated
events or changes in future operating results, financial condition or
business over time.
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