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8-K - FORM 8-K - ZIX CORP | d80378e8vk.htm |
Exhibit 99.1
Zix Corporation Announces Share Repurchase Program
DALLAS March 7, 2011 Zix Corporation (NASDAQ: ZIXI), the leader in email
encryption services, today announced that its board of directors approved 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 existing cash resources and may be suspended or discontinued at any time, however, the
share repurchase program will expire on September 30, 2011.
The boards decision to initiate a share repurchase program reflects the Companys strong
financial performance and our confidence in ZixCorps growth prospects, said Rick Spurr, ZixCorps
Chairman and Chief Executive Officer. ZixCorp is committed to creating long-term value for its
shareholders. Our healthy balance sheet and strong cash flow provide the opportunity to invest in
growing our business while also driving value to shareholders through share repurchases.
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 1,500 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.
SOURCE Zix Corporation
Zix Corporation I 2711 N. Haskell Ave. I Suite 2300, LB 36 I Dallas, TX 75204 I phone 866 257 4949 I fax 214 370 2070 I www.zixcorp.com
Contacts
ZixCorp Investor Relations: Charles Messman (323) 468-2300, zixi@mkr-group.com
Public Relations: Geoff Bibby (214) 370-2241, gbibby@zixcorp.com
Public Relations: Geoff Bibby (214) 370-2241, gbibby@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 I 2711 N. Haskell Ave. I Suite 2300, LB 36 I Dallas, TX 75204 I phone 866 257 4949 I fax 214 370 2070 I www.zixcorp.com