The board of directors of Smith & Wesson Holding (NASDAQ: SWHC ) today announced an expansion of its common stock repurchase program. The board has authorized the purchase of an additional $15 million of Smith & Wesson common stock, to be purchased between now and June 30, 2013.
Today's press release follows the Dec. 6 announcement by Smith & Wesson of its intention to repurchase $20 million of common stock. The initial $20 million repurchase program has been completed. The additional $15 million stock repurchase program will be funded by Smith & Wesson's available cash and working capital.
The timing and amount of its common stock purchases will be determined by price, market conditions, and trading volume, among other factors.