JDA Software Announces Program to Repurchase its Common Stock
Scottsdale, Ariz. – March 10, 2009 – JDA® Software Group, Inc. (NASDAQ: JDAS) announced today that the Company’s Board of Directors has adopted a program to use up to $30 million of the Company’s cash resources to repurchase shares of the Company’s common stock in the open market or in private transactions during the 12-month period ending March 10, 2010 at prevailing market prices. The Company plans to implement open market repurchases through a trading plan with pre-defined limitations so as to permit repurchases under the plan during periods when the Company would otherwise be precluded from trading in its shares. As of March 10, 2009, the Company had 31,500,069 shares of common stock outstanding. Oppenheimer & Co., Inc. will act as agents for the Company’s stock repurchase program.
JDA CEO Hamish Brewer said, “JDA's strategy to expand shareholder value through acquisition has been consistently executed over the past 10 years. However, at the current stock price we believe that the best use of the proceeds from our record sales and profits is to buy our own stock.”
About JDA Software Group, Inc.
JDA® Software Group, Inc. (NASDAQ: JDAS) is the world’s leading supply chain solutions provider, helping companies optimize operations and improve profitability. JDA drives business efficiency for its global customer base of more than 5,800 retailers, manufacturers, wholesaler-distributors and services industries companies through deep domain expertise and innovative solutions. JDA's combination of unmatched services, together with its integrated yet modular solutions for merchandising, supply chain planning and execution and revenue management, leverage the strong heritage and knowledge capital of market leaders including Manugistics, E3, Intactix and Arthur. When supply chain results matter, companies turn to JDA. For more information about JDA, visit www.jda.com or contact us at info@jda.com or call +1 800 479 7382/+1 480 308 3000.
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