Orion Energy Systems Inc. (OESX: Quote) announced that its Board has approved an increase to its previously announced $2.5 million share repurchase program. The increase authorizes the Company to repurchase in the aggregate up to $7.5 million of its outstanding common stock.
The company said it expects to be able to begin repurchasing its shares under this increased share repurchase authorization shortly after it announces its fiscal 2012 financial results sometime in mid-to-late May.
Through March 31, 2012, the Company has repurchased approximately $740,000 of its shares under its previous $2.5 million repurchase plan.
by RTT Staff Writer
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