Smith & Wesson Holding Corporation announced that its board of directors has authorized an additional $15.0 million for common stock repurchases through June 30, 2013.
On Dec. 6, 2012, the company announced that its board had approved a program to repurchase up to $20.0 million of the company’s outstanding shares of common stock from time to time until June 30, 2013. The company has subsequently repurchased all of the initially authorized $20.0 million of common stock.
The amount and timing of any repurchases will depend on a number of factors, including price, trading volume, general market conditions, legal requirements, and other factors. Any shares of common stock repurchased under the program will be considered issued but not outstanding shares of the company’s common stock. The company expects to fund the repurchase program using the company’s cash on hand and working capital.
