Feb 18 2010
Cyberonics, Inc. (Nasdaq: CYBX) today announced that its board of directors has approved a new share repurchase program.
The company's board of directors had previously authorized a repurchase of up to 1.0 million shares, of which a total of 515,000 shares were repurchased. In its action earlier this week, the company's board of directors canceled the existing program and approved a new program for the repurchase of up to 1.0 million shares.
The company expects to complete this program by the end of fiscal 2011, but the timing and extent of any such repurchases will depend on market conditions, corporate requirements and other factors. The repurchase program announced today may be suspended or discontinued at any time.
SOURCE Cyberonics, Inc.