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iRobot announces $50M stock buyback starting May 1

April 3, 2014 | Telepresence Options

IRobot

Story and images by David Harris / Boston Business Journal

iRobot Corp., the Bedford-based robotics firm, announced Wednesday that its board authorized a $50 million stock buyback.

Under the program, iRobot would purchase up to $50 million of its common stock beginning May 1 and ending April 30, 2015.

"The board's authorization of a share repurchase program reflects our confidence in the health and long-term outlook of the company," Colin Angle, chairman and CEO of iRobot, said in a statement. "With a strong balance sheet and cash flows, we believe we can take advantage of volatile market conditions to buy back our shares while maintaining the flexibility to make strategic investments in our future."

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