The Measurement Specialties, Inc. (NASDAQ: MEAS) board of directors said it has adopted a program to repurchase from time to time at management´s discretion up to USD10,000,000 of the shares of the company´s common stock in the open market or in private transactions at prevailing market prices.
As of October 28, 2013, the company had 15,866,062 shares of common stock outstanding. Repurchases will be made under the program using the company´s own cash resources. Needham & Company, Inc. will act as agent for the company´s stock repurchase program.
Measurement Specialties designs and manufactures sensors and sensor-based systems to measure precise ranges of physical characteristics such as pressure, temperature, position, force, vibration, humidity and photo optics.