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EXHIBIT 99.1
For Immediate Release
CONTACTS: James R. Offerdahl
Chief Operating Officer and CFO
1-800-287-4383
[email protected]
Marian Kelley
Director of Investor Relations
512-231-6033
[email protected]
PERVASIVE SOFTWARE
ANNOUNCES STOCK REPURCHASE PLAN
AUSTIN, TEXAS - DECEMBER 21, 2000 - Pervasive Software Inc. (Nasdaq:PVSW) today
announced that its board of directors has approved a stock repurchase plan
whereby the company will repurchase shares of its common stock up to a total
value of $5 million.
"This action reflects the continued confidence the board of directors and
management have in the future of our company," said Ron Harris, Pervasive's
chief executive officer.
The stock repurchases will be made over a period of up to 30 days, principally
through open market transactions or in privately negotiated transactions in
accordance with applicable securities and other laws, including Rule 10b-18 of
the Securities Exchange Act of 1934, as amended. Depending on market conditions
and other factors, such purchases may be commenced or suspended at any time
without prior notice.
Pervasive also announced it expects to report revenues from continuing
operations of $10.2 million to $10.9 million for the second fiscal quarter
ending December 31, 2000. Pervasive's earnings estimate for the second quarter
is $0.05 to $0.09 diluted loss per share. Actual second-quarter results will be
released on January 18, 2001.
About Pervasive Software
Pervasive Software is committed to driving simplicity into the complex world of
data
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management, a commitment that's evidenced by our powerful, yet easy-to-use
software products. It's this dedication that has made Pervasive Software's
years of database business so successful, and the reason developers worldwide
continue to depend on our high-performance database engines to power their
applications. Pervasive Software's flagship product, Pervasive.SQL 2000, is a
leading application development database, combining low-cost, reliable,
resource-efficient operations with world-class performance and usability.
Pervasive Software serves a channel of more than 10,000 independent software
vendors (ISVs), developers, value-added resellers (VARs) and partners. Based in
Austin, Texas, Pervasive has offices in Canada, Europe, and Japan, and
distributors covering 80 countries. Visit Pervasive on the Web at
www.pervasive.com or call (800) 287-4383.
Cautionary Statement
This release may contain forward-looking statements, which are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are generally preceded by words such as "may,"
"plans," "expects," "believes," "anticipates," "estimates" or "intends." All
forward-looking statements included in this document are based upon information
available to Pervasive as of the date hereof, and Pervasive assumes no
obligation to update any such forward-looking statement. Investors are cautioned
that actual results could differ materially from Pervasive's current
expectations. Factors that could cause or contribute to such differences
include, the factors and risks discussed in Pervasive's reports filed from time
to time with the Securities and Exchange Commission including, without
limitation, the risk that we will be unable to attract, motivate, and retain
skilled sales, marketing, engineering, and other personnel, the risk that the
packaged client/server applications market will not continue to grow at
historical rates, and the risk that our current revenues are substantially
dependent upon continued market acceptance of and revenues from our database
products.
Pervasive, Pervasive Software, and Pervasive.SQL 2000 are trademarks or
registered trademarks of Pervasive Software, Inc. All other company and product
names may be trademarks or registered trademarks of their respective companies.
