NEW YORK (GenomeWeb News) – Luminex's board of directors has authorized the company to repurchase up to the lesser of $22.75 million worth of its common stock or 650,000 shares, the firm said in a document filed today with the US Securities and Exchange Commission.
In the filing, the Austin, Texas-based firm said that it may repurchase its stock in the open market from time to time or in privately negotiated transactions.
The firm's board had authorized a share buyback program in November 2010 for $21 million.
Luminex is scheduled to release its fourth-quarter and full-year 2011 earnings on Feb. 6. As of Sept. 30, 2011, it had $65.1 million in cash and cash equivalents and $31.6 million in short-term investments.