XO Group Inc. (XOXO) announced that its board has authorized a new repurchase program of up to $20 million of the Company's common stock from time to time on the open market or in privately negotiated transactions.
The company stated that the repurchase program will be funded using its working capital.
As of December 31, 2012, the company had cash and cash equivalents of approximately $77.4 million. At March 8, 2013, the Company had approximately 26.8 million shares of common stock outstanding.
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