WILSONVILLE, OR--InFocus Corporation announced that the company's board of directors has authorized a share repurchase program for the purchase of up to 4 million shares of the Company's common stock over a three year period.
"The Board's approval of the share repurchase program reflects the confidence we have in our balance sheet, working capital management and in our profit recovery track," said Bob O'Malley, president and CEO, InFocus Corporation. "We continue to believe that our stock is undervalued."
Under the authorization, the Company may purchase shares from time to time in the open market or in privately negotiated transactions in compliance with the applicable rules of the Securities and Exchange Commission. The program does not obligate InFocus to acquire any particular amount of common stock and the timing and amount of such purchases will be at the discretion of management and will depend on general business, market and other considerations including alternate investment opportunities. The program may be suspended at any time at the company's discretion.