The Board of Directors of urinalysis product manufacturer IRIS International Inc. has authorized the company’s repurchase of up to $15 million in shares of common stock over a yearlong period. “The board believes that the share repurchase program is the best use of the vompany’s cash at this time, and demonstrates our commitment to enhancing shareholder value,” stated C & #233;sar Garc & #237;a, chairman, president and chief executive officer. IRIS, based in Chatsworth, expects to fund the share repurchase from cash on hand. The company has approximately $30 million in cash with no debt and is expecting strong cash flows from operations in 2008.
