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RealD Inc. Announces $50 Million Stock Repurchase Program and Enters Into New $125 Million Credit Agreement

Courtesy of Benzinga.

RealD Inc. (NYSE: RLD) today announced that its Board of Directors has authorized the repurchase of up to $50 million of RealD’s common stock.

“The repurchase authorization demonstrates our confidence in RealD’s future and our commitment to maximizing shareholder value,” said Michael V. Lewis, Chairman and Chief Executive Officer of RealD. “Our new $125 million credit facility, further bolstered by our expectation that RealD’s business will generate strong cash flows during the current fiscal year, will allow us to capitalize on opportunities to repurchase shares.”

As of April 19, 2012, the Company had approximately $30 million in cash and cash equivalents and unused borrowing capacity was approximately $100 million. The Company has approximately 54.6 million shares of common stock outstanding.


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