SPRINGFIELD, Mass., March 29, 2017 /PRNewswire/ -- American Outdoor Brands Corporation (NASDAQ Global Select: AOBC), one of the world's leading providers of firearms and quality products for the shooting, hunting, and rugged outdoor enthusiast, today announced that it has recently completed its previously authorized $50.0 million stock repurchase program and that its Board of Directors has authorized an additional $50.0 million for common stock repurchases through March 28, 2019.
On March 27, 2017, the company completed the repurchase of 2.6 million shares of its common stock under the initially authorized $50.0 million stock repurchase program. On the same day, the company's Board of Directors approved a new program to repurchase up to $50.0 million of the company's outstanding shares of common stock from time to time until March 28, 2019. 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.
Between 2012 and 2017 the company has purchased a total of 16.9 million shares of its common stock at an average price of $12.67, reducing its float as a result of share repurchases by 25.6%.
About American Outdoor Brands Corporation
American Outdoor Brands Corporation (NASDAQ Global Select: AOBC) is a provider of quality products for shooting, hunting, and rugged outdoor enthusiasts in the global consumer and professional markets. The Company reports two segments: Firearms and Outdoor Products & Accessories. Firearms manufactures handgun and long gun products sold under the Smith & Wesson®, M&P®, and Thompson/Center Arms™ brands as well as provides forging, machining, and precision plastic injection molding services. Outdoor Products & Accessories provides shooting, hunting, and outdoor accessories, including reloading, gunsmithing, and gun cleaning supplies, tree saws, vault accessories, knives, laser sighting systems, tactical lighting products, and survival and camping equipment. Brands in Outdoor Products & Accessories include Smith & Wesson®, M&P®, Thompson/Center Arms™, Crimson Trace®, Caldwell® Shooting Supplies, Wheeler® Engineering, Tipton® Gun Cleaning Supplies, Frankford Arsenal® Reloading Tools, Lockdown® Vault Accessories, Hooyman® Premium Tree Saws, BOG POD®, Golden Rod® Moisture Control, Schrade®, Old Timer®, Uncle Henry®, UST®, and Imperial™. For more information on American Outdoor Brands Corporation, call (844) 363-5386 or log on to www.aob.com.
Contact: Liz Sharp, VP Investor Relations
American Outdoor Brands Corporation
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/american-outdoor-brands-corporation-completes-50-million-stock-repurchase-program-300430906.html
SOURCE American Outdoor Brands Corporation