Dolby Laboratories, Inc. (NYSE:DLB) today announced that its Board of
Directors has approved a stock repurchase program authorizing the
Company to repurchase up to $250 million of its Class A Common Stock.
The objective of the ongoing program is to offset dilution from the
Company’s equity compensation programs.
Stock repurchases under this program may be made through open market
transactions, negotiated purchases, or otherwise, at times and in such
amounts as Dolby considers appropriate. The timing of repurchases and
the number of shares repurchased will depend on a variety of factors
including price, regulatory requirements and other market conditions.
Dolby may limit, suspend or terminate the stock repurchase program at
any time without prior notice. Any shares repurchased under the program
will be returned to the status of authorized but unissued shares of
Class A Common Stock.
Forward-Looking Statements
Certain statements in this press release, including statements relating
to Dolby’s intention to repurchase its Class A Common Stock in the
future, are “forward-looking statements” that are subject to risks and
uncertainties. These forward-looking statements are based on
management’s current expectations, and as a result of certain risks and
uncertainties, actual results may differ materially from those
projected. The following important factors, without limitation, could
cause actual results to differ materially from those in the
forward-looking statements: risks associated with changing stock market
conditions, Dolby’s ability to make appropriate, timely and beneficial
decisions as to when, how, and whether to purchase shares under the
stock repurchase program, alternative uses of Dolby’s capital and other
risks detailed in Dolby’s Securities and Exchange Commission filings and
reports, including the risks identified under the section captioned
“Risk Factors” in its most recent Periodic Report on Form 10-Q or 10-K.
Dolby disclaims any obligation to update information contained in these
forward-looking statements whether as a result of new information,
future events, or otherwise.
About Dolby Laboratories
Dolby Laboratories (NYSE:DLB) is the global leader in technologies that
are essential elements in the best entertainment experiences. Founded in
1965 and best known for high-quality audio and surround sound, Dolby
creates innovations that enrich entertainment at the movies, at home, or
on the go. Visit www.dolby.com
for more information.
Dolby and the double-D symbol are registered trademarks of Dolby
Laboratories. S09/22064 DLB-F
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