Courtesy of Benzinga.
Bio-Reference Laboratories, Inc. (NASDAQ: BRLI) announced today that its board of directors has approved a Stock Repurchase Program authorizing the repurchase of up to 1,000,000 shares of its Common Stock in the over-the-counter market at prevailing market prices through October 31, 2012. The board of directors believes that BRLI’s common stock is currently undervalued and that a Repurchase Program of this nature constitutes an appropriate investment that will benefit BRLI’s stockholders. Company fundamentals have been and continue to remain strong. The company will commence its buyback once it reaches its next open period that will be after the announcement of its fourth quarter earnings in mid December 2011.
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