Razorfish Announces Stock Repurchase Program
NEW YORK--(BUSINESS WIRE)--Jan. 17, 2001--Razorfish, Inc. (NASDAQ: RAZF - news) today announced that its Board of Directors has authorized a stock repurchase plan under which the company may repurchase up to 5 million shares of its outstanding common stock.
The shares may be purchased from time to time at prevailing market prices, through open market or unsolicited negotiated transactions, depending upon market conditions at the company's discretion. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be held in treasury or used for ongoing stock issuances under employee stock plans. As of December 31, 2000, Razorfish had approximately 98.3 million shares outstanding.
``The Board's approval of this program reflects our confidence in Razorfish's future,'' commented Jeff Dachis, chief executive officer. ``Repurchasing stock is one method of demonstrating our commitment to enhancing shareholder value.''
About Razorfish
Founded in 1995, Razorfish is a global digital solutions provider. Razorfish helps clients discover, create, and implement business solutions by leveraging digital technologies across platforms, networks, and devices. From business and brand strategy to systems integration, Razorfish provides clients with opportunities to increase revenues, enhance productivity, and maximize competitive advantage. With offices in Amsterdam, Boston, Frankfurt, Hamburg, Helsinki, Los Angeles, London, Milan, Munich, New York, Oslo, San Francisco, Silicon Valley, Stockholm, and Tokyo, Razorfish employs more than 1,900 people and is headquartered in New York. Recent Razorfish clients include NatWest, Nissan-Europe, RTL NEWMEDIA, Vodafone Airtouch, and Charles Schwab. For more information visit: www.razorfish.com.
Forward-Looking Statement Disclaimer
Safe Harbor Statements Under the Private Securities Litigation Reform Act of 1995
This release contains, in addition to historical information, forward-looking statements. Forward-looking statements are subject by their nature to risks and uncertainties, and actual results could differ materially from those set forth in the forward-looking statements. Typical risks and uncertainties include, but are not limited to, those related to the number and size of projects completed in a given period, integration of acquisitions, economic conditions, changes in competition, and other factors described from time to time in Razorfish's reports filed with the Securities Exchange Commission. Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company is not undertaking to update any information in the foregoing reports until the effective date of its future reports required by the securities laws.
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Contact:
Razorfish
Press Relations Contact:
David LaBar, 212/798-7941
dlabar@razorfish.com
Investor Relations Contact:
Jeff Bergman, 212/798-8035
jbergman@razorfish.com
or
Courtney Campbell, 212/798-6556
ccampbell@razorfish.com
NEW YORK--(BUSINESS WIRE)--Jan. 17, 2001--Razorfish, Inc. (NASDAQ: RAZF - news) today announced that its Board of Directors has authorized a stock repurchase plan under which the company may repurchase up to 5 million shares of its outstanding common stock.
The shares may be purchased from time to time at prevailing market prices, through open market or unsolicited negotiated transactions, depending upon market conditions at the company's discretion. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be held in treasury or used for ongoing stock issuances under employee stock plans. As of December 31, 2000, Razorfish had approximately 98.3 million shares outstanding.
``The Board's approval of this program reflects our confidence in Razorfish's future,'' commented Jeff Dachis, chief executive officer. ``Repurchasing stock is one method of demonstrating our commitment to enhancing shareholder value.''
About Razorfish
Founded in 1995, Razorfish is a global digital solutions provider. Razorfish helps clients discover, create, and implement business solutions by leveraging digital technologies across platforms, networks, and devices. From business and brand strategy to systems integration, Razorfish provides clients with opportunities to increase revenues, enhance productivity, and maximize competitive advantage. With offices in Amsterdam, Boston, Frankfurt, Hamburg, Helsinki, Los Angeles, London, Milan, Munich, New York, Oslo, San Francisco, Silicon Valley, Stockholm, and Tokyo, Razorfish employs more than 1,900 people and is headquartered in New York. Recent Razorfish clients include NatWest, Nissan-Europe, RTL NEWMEDIA, Vodafone Airtouch, and Charles Schwab. For more information visit: www.razorfish.com.
Forward-Looking Statement Disclaimer
Safe Harbor Statements Under the Private Securities Litigation Reform Act of 1995
This release contains, in addition to historical information, forward-looking statements. Forward-looking statements are subject by their nature to risks and uncertainties, and actual results could differ materially from those set forth in the forward-looking statements. Typical risks and uncertainties include, but are not limited to, those related to the number and size of projects completed in a given period, integration of acquisitions, economic conditions, changes in competition, and other factors described from time to time in Razorfish's reports filed with the Securities Exchange Commission. Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company is not undertaking to update any information in the foregoing reports until the effective date of its future reports required by the securities laws.
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Contact:
Razorfish
Press Relations Contact:
David LaBar, 212/798-7941
dlabar@razorfish.com
Investor Relations Contact:
Jeff Bergman, 212/798-8035
jbergman@razorfish.com
or
Courtney Campbell, 212/798-6556
ccampbell@razorfish.com
