Advanced Energy Industries Authorizes $25 Mln Buyback

(RTTNews) - Advanced Energy Industries, Inc. (AEIS) said its Board of Directors has authorized the company to repurchase up to $25 million of its common stock over the next 12 months.

Purchases by the company will be made from time to time in accordance with applicable securities regulations. There is no minimum number of shares to be repurchased under the program.

As of March 31, the company had about $123 million in cash, cash equivalents and marketable securities and around 41 million common shares outstanding.

Garry Rogerson, CEO of Advanced Energy, said, "Our strong balance sheet and cash flow generation are enabling us to pursue organic and inorganic initiatives to drive growth while giving the flexibility to implement this buyback program."