Smith & Wesson Completes $100 Mln Buyback; Board OKs Addl. $15 Mln Of Stock

(RTTNews) - Firearms maker Smith & Wesson Holding Corp. (SWHC) said it has completed the repurchase of $100 million of its outstanding common stock via. a program authorized by its board in June of 2013. As per that program, that included the tender offer recently completed in July 2013, the firm purchased 9.0 million shares at an average price of $11.09, resulting in 55.8 million shares outstanding. Based on the results of the buyback program, the company expects fully diluted shares of around 60.4 million for the quarter ending October 31, 2013.

Further, the company's board has authorized the buyback of an additional $15 million of its stock in open market or privately negotiated transactions.