GREENVILLE, S.C.--(BUSINESS WIRE)--Span-America Medical Systems, Inc. (NASDAQ: SPAN) announced today that the Board of Directors authorized the Company to repurchase up to 5% of its outstanding shares of common stock.
“We believe Span-America’s stock represents an attractive investment at recent prices,” stated James D. Ferguson, president and chief executive officer of Span-America. “We remain very positive about the Company’s future based on our strong suite of products in the core medical business and additional opportunities to grow our consumer sales. We believe the repurchase of our stock will take advantage of our strong capital position while highlighting our confidence in the future of the Company. We plan to use a combination of cash generated by operations and cash from our revolving credit facility as necessary to fund the stock repurchase.”
