PhotoMedex Board Authorizes $25M Share Repurchase
PhotoMedex, Inc. (NASDAQ: PHMD) today announced that the Board of Directors has authorized the Company to repurchase up to $25 million of its common shares in the open market over the next twelve months, at such times and prices as determined appropriate by the Company's management in collaboration with the Board of Directors. The shares will be purchased with cash on hand.
"Based on expectations for continued future growth, the Board of Directors has decided to strategically deploy its capital by authorizing the repurchase of common shares from time to time depending on market conditions," said Lewis C. Pell, Chairman of PhotoMedex's Board of Directors.
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