CARLSBAD, Calif., March 18, 2020 /PRNewswire/ -- Natural
Alternatives International, Inc. ("NAI") (Nasdaq: NAII), a leading
formulator, manufacturer and marketer of customized nutritional
supplements, today announced its Board of Directors authorized a
$1.0 million increase to its stock
repurchase plan bringing the total plan authorized repurchase
amount to $10.0 million. Under the
repurchase plan, NAI may, from time to time, purchase shares of its
common stock, depending upon market conditions, in open market or
privately negotiated transactions. Since December 31, 2019, we have purchased an
additional 198,336 shares of our common stock under this plan
bringing our total plan purchases to date to 1.2 million shares. At
present there is $2.0 million
remaining available for stock repurchases under the plan.
Mark A. Le Doux, Chairman and
Chief Executive Officer of NAI stated, "While we face an
unprecedented situation with the global impact of the Covid-19
coronavirus, including an unknown financial impact to our company,
we remain committed to buying back shares anytime we believe it is
in our stockholders long term best interest, while continuing to be
cautious about the unknown impact of the current health
crisis."
NAI, headquartered in Carlsbad,
California, is a leading formulator, manufacturer and
marketer of nutritional supplements and provides strategic
partnering services to its customers. Our comprehensive partnership
approach offers a wide range of innovative nutritional products and
services to our clients including: scientific research, clinical
studies, proprietary ingredients, customer-specific nutritional
product formulation, product testing and evaluation, marketing
management and support, packaging and delivery system design,
regulatory review and international product registration
assistance. For more information about NAI, please see our website
at http://www.nai-online.com.
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934
that are not historical facts and information. These statements
represent our intentions, expectations and beliefs concerning
future events, including, among other things, our financial
condition, and our ability to acquire our own shares on a
reasonable basis, as well as future economic conditions and the
impact of Covid-19 and such other conditions on our business. We
wish to caution readers these statements involve risks and
uncertainties that could cause actual results and outcomes for
future periods to differ materially from any forward-looking
statement or views expressed herein. NAI's financial performance
and the forward-looking statements contained herein are further
qualified by other risks including those set forth from time to
time in the documents filed by us with the Securities and Exchange
Commission, including our most recent Annual Report on Form
10-K.
CONTACT – Michael Fortin, Chief Financial Officer, Natural
Alternatives International, Inc., at 760-736-7700
or investor@nai-online.com.
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SOURCE Natural Alternatives International, Inc.