Monday, February 25, 2013

iRobot (IRBT) $25M Share Repurchase Program

iRobot (IRBT) closed today (02013.02.25) at $20.46. 52-week range: $16.25 - $28.91. After the market closed iRobot reported its board had approved at $25 million share buyback. From iRobot's press release.
"The Board’s authorization of a share repurchase program reflects our confidence in the health and long-term outlook of the company," said Colin Angle, chairman and chief executive officer of iRobot. "With a strong balance sheet and cash flows, we believe we can take advantage of current market conditions to buy back our shares while maintaining the flexibility to make strategic investments in our future."

On 11 February 02013, iRobot had approximately 27,872,850 shares of common stock outstanding. At IRBT's current price the company could buy approximately 1.2 million shares, which is about 4.4% of the shares outstanding.

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