DTS Announces Stock Repurchase Program
Audio technology developer DTS, Inc. (Nasdaq:DTSI) has announced that its Board of Directors has approved a plan to repurchase up to one million shares of the Company’s common stock in the open market or in privately negotiated transactions, depending upon market conditions, relevant security laws and other conditions.
“We believe this share repurchase program communicates our confidence in our long-term prospects as well as our commitment to building shareholder value,” commented Jon Kirchner, chairman and CEO of DTS. “We remain well positioned to capitalize on the accelerating growth in Blu-ray equipment and content, and are making promising strides to extend our business opportunity well beyond Blu-ray with the trend toward network connected entertainment.”
The share repurchases will be funded from available working capital. There is no fixed termination date for the repurchase program.
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