WESTFORD, Mass., Sept. 17 /PRNewswire/ --
NetScout Systems, Inc. (Nasdaq: NTCT), a leading provider of network
performance management solutions, announced today that its Board of Directors
has authorized an open market stock repurchase program that will enable
NetScout to purchase up to 1 million shares of outstanding NetScout common
stock. The program is effective immediately.
Any purchases under NetScout's stock repurchase program may be made, from
time-to-time, in the open market, through block trades or otherwise. Depending
on market conditions and other factors, these purchases may be commenced or
suspended at any time or from time-to-time without prior notice. As of August
9, 2001, NetScout has approximately 29.6 million shares outstanding.
"NetScout's Board of Directors has authorized this repurchase program to
support and demonstrate our confidence in America's financial markets and in
our company's future," said Anil Singhal, President and Chief Executive
Officer. "This buyback is also an important way for us to use our financial
strength; we believe our stock is undervalued and want to take this additional
measure to increase shareholder value alongside our other strategic
investments in market leadership."
About NetScout Systems
NetScout Systems, Inc. is a market leader and pioneer of integrated
infrastructure performance management solutions for leading companies and
service providers worldwide. NetScout serves a major portion of the Fortune
500 and counts among its customers 3M Corporation, AT&T, Bristol-Myers Squibb,
Cisco Systems, VoiceStream, Arvin Meritor, Coca Cola, MCI Worldcom, Fidelity
Investments, Bank of America, Baxter Healthcare, CitiGroup, Smith Barney,
Goldman Sachs, General Motors, Motorola and Sun Microsystems.
NetScout's solutions are offered through its nGenius (TM) Performance
Management System, an integrated solutions-based suite of advanced monitoring
and reporting applications that draw on the rich performance data generated by
NetScout's real-time, application-aware probe suite, advanced intelligent
software agents, and network devices. The nGenius System helps organizations
increase their return on infrastructure investments by optimizing the
performance of their network, applications and content. NetScout is
headquartered in Westford, Massachusetts and has approximately 360 employees,
with offices in North America, Europe and Asia. Further information on the
company is available on the World Wide Web at www.netscout.com.
Forward-looking statements in this release are made pursuant to the safe
harbor provisions of Section 21E of the Securities Exchange Act of 1934.
Investors are cautioned that statements in this press release which are not
strictly historical statements, including the plans, objectives and future
financial performance of NetScout, constitute forward-looking statements which
involve risks and uncertainties. Actual results could differ materially from
the forward-looking statements. Risks and uncertainties which could cause
actual results to differ include, without limitation, risks and uncertainties
associated with the company's strategic relationships with Cisco Systems and
other partners, dependence upon broad-based acceptance of the company's
infrastructure performance management solutions, the company's ability to
achieve and maintain a high rate of growth, introduction and market acceptance
of new products and product enhancements such as the delivery of nGenius
product platform probes and software solutions, the ability of NetScout to
take advantage of service provider opportunities, competitive pricing
pressures, reliance on sole source suppliers, successful expansion and
management of direct and indirect distribution channels, and dependence on
proprietary technology, as well as risks of slowdowns or downturns in economic
conditions generally and in the market for infrastructure performance
management solutions specifically. For a more detailed description of the
risk factors associated with the company, please refer to the company's Annual
Report on Form 10-K for the fiscal year ended March 31, 2001, and its
quarterly report on Form 10-Q for the quarter ended June 30, 2001, on file
with the Securities and Exchange Commission.
NetScout is a registered trademark, and the NetScout logo, nGenius,
nGenius Application Service Level Manager, nGenius Real-Time Monitor and
nGenius Capacity Planner are trademarks of NetScout Systems, Inc.
Contacts:
Peggy Flynn Bill Zima
Director of Corporate Relations Associate Director
NetScout Systems, Inc. Thomson Financial/Carson Group
978-614-4162 212-510-9261
flynnp@netscout.com bill.zima@tfn.com
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SOURCE NetScout Systems, Inc.
Web site: http: //www.netscout.com
CONTACT: Peggy Flynn, Director of Corporate Relations of NetScout Systems, Inc., +1-978-614-4162, flynnp@netscout.com; or Bill Zima, Associate Director, Thomson Financial/Carson Group, +1-212-510-9261, bill.zima@tfn.com