SUNNYVALE, Calif., October 24, 2002 - Artisan Components, Inc. (Nasdaq: ARTI), a leading provider of semiconductor intellectual property (IP), today announced its board of directors has authorized a stock repurchase program of up to $5 million of its common stock over the next twelve months. Shares will be repurchased in the open market at times and prices considered appropriate by Artisan Components. The program is effective immediately.
"This repurchase program reflects the confidence our board of directors and management have in our industry and in Artisan Components," said Mark Templeton, president and chief executive officer of Artisan Components. "Our strong balance sheet allows us to implement this program, which we believe is in the best interests of our stockholders."
The timing of purchases and the exact number of shares to be purchased will depend on market conditions. As of September 30, 2002, Artisan Components had approximately 16.9 million shares of common stock outstanding.
Forward Looking Statements
This press release contains forward-looking statements, including statements regarding the stock repurchase program, that are subject to certain risks and uncertainties, including, but not limited to, those associated with unpredictability and volatility of the price of Artisan Components' common stock and the securities of other companies in Artisan Components' industry, the performance of and conditions in the United States and world financial markets, the policies and actions of the United States and other governments, and the general political, economic and business conditions in the United States and elsewhere, as well as the "Factors Affecting Future Operating Results" set forth in Artisan Components' most recent Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and Artisan Components' other filings with the Securities and Exchange Commission. Actual results could differ materially, as a result of such factors, from those set forth in the forward-looking statements.
Forward-looking statements are only predictions and the actual events or results may differ materially. Artisan Components cannot provide any assurance that its future results will meet expectations. In addition, historical information should not be considered a predictor of future performance. Neither Artisan Components nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. Artisan Components disclaims any obligation to update information contained in any forward-looking statement.
About Artisan Components
Artisan Components, Inc. is a leading semiconductor intellectual property (IP) provider. The company's design platforms are licensed to over 1000 companies worldwide. Artisan's design platforms provide IC designers with a common interface to a range of process technologies from the world's leading foundries. Built on Artisan's Process-Perfect™ memory generators, standard cell and I/O libraries, Artisan's design platforms include a comprehensive set of views and models supporting leading design tools and methodologies. Artisan's worldwide network of EDA, IP and design service partners extend the Artisan standard to a complete set of system level design and integration solutions. Artisan is headquartered in Sunnyvale, California. More information about Artisan Components, including free library access can be found at: http://access.arm.com.
Artisan Components is a registered trademark and Process-Perfect is a trademark of Artisan Components, Inc. All other trademarks or registered trademarks are the property of their respective owners.