Autobytel Oks Additional $1 Mln Common Stock Repurchase Program

(RTTNews) - Automotive Internet firm Autobytel Inc. (ABTL) Wednesday said its Board of Directors has approved an additional $1.0 million common stock repurchase program, increasing the total program to an aggregate of $3.0 million of common stock the company has been authorized to purchase.

Autobytel's Board of Directors previously authorized the company to repurchase $2.0 million of its common stock on June 7, 2012.

The announcement reflects the Board of Directors' desire to continue to return value to stockholders and its confidence in the long-term growth prospects of the company's business, the firm noted.

Autobytel currently has approximately 9.0 million shares of common stock outstanding.