NVIDIA Corporation Announces $1 Billion Stock Repurchase Program
NVIDIA Corporation (Nasdaq: NVDA), today announced a stock repurchase program under which NVIDIA may purchase up to $1 billion of its common stock. Since authorizing its first stock repurchase program in August 2004, NVIDIA has spent $613.1 million to repurchase 31.4 million shares of its common stock.
The repurchases will be made in the open market, in privately negotiated transactions, or in structured share repurchase programs, and may be made from time to time or in one or more larger repurchases. The program will be conducted in compliance with the SECís Rule 10b-18 and applicable legal requirements and shall be subject to market conditions and other factors.
The program does not obligate NVIDIA to acquire any particular amount of common stock and the program may be modified or suspended at any time at the Companyís discretion. The purchases will be funded from available working capital. As of April 29, 2007 NVIDIA had over $1.3 billion of cash, cash equivalents, and marketable securities.
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