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
(413) 747-6284
lsharp@aob.com
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SOURCE American Outdoor Brands Corporation