TAMPA, Fla., July 18 /PRNewswire/ -- Global Imaging Systems, Inc. (NASDAQ:GISX) today announced that its Board of Directors has approved a two- for-one split of the company's common stock, to be effected in the form of a 100 percent stock dividend. Each shareholder of record will receive one additional share for each outstanding share held at the close of business on August 1, 2006. The additional shares will be distributed on August 15, 2006, and trading will begin on a split-adjusted basis on August 16, 2006.
Global's Chairman and CEO Tom Johnson said, "The stock split reflects not only the company's strong earnings and financial position, but also the board's continuing confidence in the company's future." He added, "Our shareholders should benefit from a more-stable stock price environment as a result of the additional shares made available for trading by the stock split." About Global Imaging Systems Global Imaging Systems offers thousands of middle-market customers a one- stop solution for office technology needs in 32 states and the District of Columbia. The company provides a broad line of office technology solutions including the sale and service of copiers and other automated office equipment, network integration services, and electronic presentation systems. The company is also a disciplined, profitable consolidator in the highly fragmented office technology solutions industry.
This news release contains forward-looking statements and statements based on forward-looking information, including statements relating to Global's expected future acquisitions, future revenue growth and future diluted earnings per share. These statements include the words "expect," "believe," "should," variations of such words, "we are optimistic" and similar expressions which are intended to identify such forward-looking statements. These statements are based on numerous assumptions and are subject to uncertainties and risks. Actual results could differ materially. Factors that might cause Global's results to differ materially include risks relating to changes in the overall economy; rising interest rates; Global's debt and debt service obligations; the challenge of integrating acquired businesses; the need for funding acquisitions; Global's ability to close acquisitions in a timely and cost-effective manner; the need for skilled employees; rapid technological change in Global's industry; dependence on suppliers; and high levels of competition. Most of these risks are discussed in more detail under the caption "Risk Factors" in Global's annual report on Form 10-K for the year ended March 31, 2006. DATASOURCE: Global Imaging Systems, Inc.
CONTACT: Larry Paine, Vice President, Secretary and General Counsel, Global Imaging Systems, Inc., +1-813-960-5508; or Investor Relations Consultants, Inc., +1-727-781-5577, or , for Global Imaging Systems
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