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LSI Industries Inc. (NASDAQ:LYTS“LSI” or the “Company”)) a leading US based manufacturer of indoor/outdoor lighting and display solutions, announced today that its Board of Directors authorized a new share repurchase program under which the Company may repurchase up to $15 million of its outstanding shares of common stock in the open market, in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The Company’s decision to repurchase its shares, as well as the timing of such repurchases, will depend on a variety of factors, including the ongoing assessment of the Company’s capital needs, the market price of the Company’s common stock, general market conditions and other corporate considerations, as determined by management. The repurchase program may be suspended or discontinued at any time.
“LSI is committed to a balanced capital allocation strategy designed to maximize total …
Full story available on Benzinga.com
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