Amdocs Limited Announces Additional $1 Billion in Share Repurchase Program Authorization

ST. LOUIS, Feb. 23, 2011 /PRNewswire/ --

Key highlights:

• The board of directors has authorized a share repurchase plan allowing the repurchase of up to $1 billion of ordinary shares over the next 2 years. This plan is in addition to the $700 million authorization from April 2010, of which $198 million remained outstanding as of December 31, 2010
• In addition, Amdocs will provide a three-year financial and business outlook for FY2011-2013 during its Analyst Day presentations held today at the New York Stock Exchange
• The Analyst Day Webcast is available live beginning at 8:30am ET at http://phx.corporate-ir.net/phoenix.zhtml?c=113915&p=irol-irhome

Amdocs Limited (NYSE: DOX) will hold its Analyst Day today in New York City where Eli Gelman, President and Chief Executive Officer of Amdocs Management Limited, and Tamar Rapaport Dagim, Senior Vice President and Chief Financial Officer of Amdocs Management Limited, will provide additional details on the new repurchase authorization and present Amdocs' financial and business outlook for FY2011-FY2013.  In addition, Amdocs will host a series of presentations from the senior management team to provide an overview of Amdocs' long-term strategy and business initiatives.

Analyst Day Webcast Details

Amdocs will host its Analyst Day on February 23, 2011 at 8:30 a.m. Eastern Time. The event will be carried live on the Internet via the following link: http://phx.corporate-ir.net/phoenix.zhtml?c=113915&p=irol-irhome.  The webcast replay will also be archived at the same web address and available by approximately 5pm Eastern Time on the same day.  

About Amdocs

Amdocs is the market leader in customer experience systems innovation. The company combines business and operational support systems, service delivery platforms, proven services, and deep industry expertise to enable service providers and their customers to do more in the connected world. Amdocs' offerings help service providers explore new business models, differentiate through personalized customer experiences, and streamline operations. A global company with revenue of approximately $3.0 billion in fiscal 2010, Amdocs has over 19,000 employees and serves customers in more than 60 countries worldwide. For more information, visit Amdocs at www.amdocs.com.

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs ability to grow in the business markets that it serves, Amdocs ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2010 filed on December 7, 2010 and in our quarterly 6-K filed February 8, 2011.  

SOURCE Amdocs Limited