Amdocs Ltd. (NYSE: DOX) today announced that its board of directors has authorized a share repurchase plan allowing the repurchase of up to $1 billion of ordinary shares over the next two years. The new plan follows the $700 million share buyback plan, authorized in April 2010, of which $198 million remained outstanding at the end of 2010.
Amdocs also announced that it will provide a three-year financial and business outlook for fiscal years 2011-2013 during its Analyst Day presentations today at the New York Stock Exchange. Amdocs president and CEO Eli Gelman and SVP and CFO Tamar Rapaport Dagim will provide further details about the company's business outlook.
In separate developments, Amdocs announced two new contracts for its products in Brazil and Germany. Amdocs did not disclose the size of either contract. Brazilian mobile carrier TIM Brasil SA (NYSE: TSU; Bovespa: TCSL3, TSCL4), and mobile carrier Vodafone Germany will deploy Amdocs products to support their next generation networks.
Vodafone Germany selected Amdocs OSS (operational support systems) software to support the rollout of its 4G LTE mobile network in order to increase the capacity and speed of data services it can offer to its customers.
TIM Brasil selected products from Amdocs' Customer Experience System (CES) 8 portfolio for the carrier's "B/OSS" transformation initiative supporting its next-generation network.
Amdocs's share price fell 2.1% yesterday to $28.97, giving a market cap of $5.5 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on February 23, 2011
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