iRobot Corporation (IRBT)

[Wildbilly]

iRobot Launches Stock Repurchase Program


Feb 28, 2013 (Close-Up Media via COMTEX) -- iRobot Corp., a company focused on
delivering robotic technology-based solutions, announced that its Board of
Directors has authorized a stock repurchase program. Under the program, iRobot
may purchase up to $25 million of its common stock beginning March 28, and
ending March 27, 2014.

According to the company, under the repurchase program, the Company is
authorized to repurchase shares through Rule 10b5-1 plans (which would permit
the Company to repurchase shares when the Company might otherwise be precluded
from doing so under insider trading laws), open market purchases,
privately-negotiated transactions, block purchases or otherwise in accordance
with applicable federal securities laws, including Rule 10b-18 of the Securities
Exchange Act of 1934. The Company may choose to suspend or discontinue the
repurchase program at any time but cannot carry over unused authorization
amounts to future periods.

"The Board's authorization of a share repurchase program reflects our confidence
in the health and long-term outlook of the company," said Colin Angle, chairman
and chief executive officer of iRobot. "With a strong balance sheet and cash
flows, we believe we can take advantage of current market conditions to buy back
our shares while maintaining the flexibility to make strategic investments in
our future." As of February 11, iRobot had 27,872,850 shares of common stock
outstanding.

Company Information:

http://www.irobot.com


Copyright Close-Up Media, Inc. 2013. All Rights reserved

-0-




INDUSTRY KEYWORD: Manufacturing_Close-up

Source: Comtex Wall Street News