|Wednesday, July 23, 1997||< Prev||Next >|
SEATTLE, July 23 /PRNewswire/ — Visio Corporation (Nasdaq: VSIO) today announced that its Board of Directors approved a 2-for-1 stock split of the company's common stock. Shareholders will receive one additional share for every share held on the record date of August 8, 1997.
"We are committed to delivering compelling and innovative products to our customers and our performance has reflected that with excellent financial results and superior value to our shareholders," said Jeremy Jaech, president and chief executive officer at Visio. "This is the first time the stock has split since the Company went public on November 9, 1995 and our share price has more than quadrupled in that time. This stock split should enhance our attractiveness to a broader base of investors."
As of June 30, 1997 Visio had approximately 14 million shares outstanding. Upon completion of the split, the number will increase to approximately 28 million shares outstanding. The additional shares will be mailed or delivered on or about August 8, 1997 by the company's transfer agent, ChaseMellon Shareholder Services, LLC.
Visio Corporation, a leading supplier of enterprisewide business diagramming and technical drawing software, was founded in September 1990. The Seattle-based company pioneered the drawing and diagramming market with the release of Visio 1.0 in November 1992 and has since released additional Windows-based products for the creation and exchange of drawings and diagrams in business. Visio's powerful product architecture, combined with partner programs and third-party relationships in key market segments, is establishing Visio as a desktop platform standard for the creation of graphical solutions. The company markets the Visio product line in nine languages and in more than 35 countries, with more than 1 million users throughout the world.
This press release (including the quoted language above and the reference to establishment of Visio as a desktop platform standard) contains forward-looking statements. There are certain important factors that could cause actual results to differ materially from those anticipated by some of the statements made above. Among these are fluctuations in quarterly performance, dependence on other products including Microsoft Windows, competition in the business drawing and diagramming software market, timing and customer acceptance of new products, the company's ability to manage growth and integrate acquired technology, potential changes in licensing and marketing methods, and changes in general economic conditions. Additional information concerning these and other risks is described in the section entitled "Certain Risk Factors That May Impact Future Results of Operations" contained in the company's Annual Report on Form 10-K for the fiscal year ended September 30, 1996, and, from time to time, in other reports filed by the company with the Securities and Exchange Commission.
NOTE: Visio is a registered trademark of Visio Corporation. All other trademarks, trade names or company names referenced herein are used for identification only and are the property of their respective owners. SOURCE Visio Corporation
/CONTACT: Leslie Deitz of Visio Corporation, 206-521-4546/
/Visio Corporation press releases available through Company News On-Call by fax, 800-758-5804, ext. 107036, or at http://www.prnewswire.com/
CO: Visio Corporation ST: Washington IN: CPR SU:
BD-CS — SFW085 — 9053 07/23/97 19:24 EDT http://www.prnewswire.com