Autobytel Approves $1.5M Stock Repurchase Program

Autobytel Inc.

today announced that its Board of Directors has approved a stock repurchase program that authorizes the repurchase of up to $1.5 million of the company's common stock. Under the repurchase program, Autobytel may repurchase common stock from time to time on the open market or in private transactions. The company will fund the repurchases through the use of available cash. The timing and extent of the repurchases will depend upon market conditions and other corporate considerations at the company's sole discretion. Autobytel currently has approximately 46 million shares of common stock outstanding.