The company also announced that the board authorized a program to repurchase up to $30M of common stock. Under the program, purchases may be made from time to time in the open market, in privately negotiated purchases, or both. The timing and number of shares to be purchased will be based on the price of the company’s common stock, general business and market conditions and other investment considerations and factors. The share repurchase program expires on October 31, 2026. The program does not obligate the company to repurchase any specific number of shares and may be suspended or discontinued at any time without prior notice. The company intends to finance the share repurchase program with cash on hand.
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