WESTLAKE VILLAGE, Calif., March 1, 2004 (PRIMEZONE) -- United Online (Nasdaq:UNTD) today announced that it repurchased an additional 2.9 million shares of its common stock during the month of February for $48.7 million, reaching the $100 million aggregate amount previously authorized by its Board of Directors. To date, the company has repurchased a total of 7.0 million shares under the repurchase program.
"The decision to repurchase shares reflects our confidence in United Online's continued growth and strong cash flow," said Mark R. Goldston, chairman, CEO and president of United Online. "The company's outstanding performance has provided us with significant financial flexibility and a strong capital position, and we will continue to evaluate the most effective ways to deploy that capital to create value for shareholders."
About United Online
United Online, Inc. (Nasdaq:UNTD) is the nation's leading provider of value-priced Internet access services through its NetZero, Juno and BlueLight consumer brands. The company's standard services are offered at less than half the standard monthly premium dial-up access prices of its major competitors and are available in more than 6,500 cities across the United States and in Canada. At December 31, 2003, United Online had 499 employees worldwide. The company is headquartered in Westlake Village, Calif., with offices in New York City, San Francisco and Hyderabad, India. For more information about United Online and its Internet access services, please visit www.untd.com.
Cautionary Information Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements containing words such as "continue" or similar expressions constitute forward-looking statements. These statements include, without limitation, projections of future financial performance, cash flows, capital resources, and growth in pay subscribers. Actual results may differ materially from those predicted, and reported results should not be considered an indication of future performance. Potential risks and uncertainties include, among others: the effect of competition, including adoption of broadband services and changes in pricing by us or our competitors; the company's inability to retain its existing subscribers and the rate at which new subscribers sign up for the company's services; changes in the mix of our subscribers, particularly subscribers to our accelerated dial-up services; additional telecommunications costs or other factors negatively impacting our billable services margin; unanticipated technological problems or developments; risks associated with litigation; and unanticipated governmental regulation. More information about potential factors that could affect the company's business and financial results is included in the company's annual and quarterly reports filed with the Securities and Exchange Commission (http://www.sec.gov), including without limitation information under the captions "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors".