Autobytel authorizes additional $3M for share repurchases
Autobytel announced that its Board of Directors has authorized the company to repurchase up to $3M of the company's common stock. This new authorization follows the completion of an earlier stock repurchase program. The company may repurchase shares of its common stock from time to time on the open market and/or in private transactions. The company will fund any repurchases through the use of available cash. The timing and actual number of shares repurchased will depend upon a variety of factors, including price, market conditions and other legal, regulatory and corporate considerations at the company's sole discretion. The repurchase authorizations do not obligate the company to repurchase any particular number of shares. The authorizations may be increased or otherwise modified, renewed, suspended or terminated by the company at any time, without prior notice.