CARLSBAD, Calif., Jan. 18, 2022 /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
$3.0 million increase to its stock
repurchase plan bringing the total plan authorized repurchase
amount to $18.0 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. To date, we have purchased 1.9
million shares under this repurchase plan, including the purchase
of 237,000 shares since September 30,
2021, and after this increase we will have $3.0 million available for stock repurchases
under the plan.
Mark A. Le Doux, Chairman and
Chief Executive Officer of NAI stated, "Since the inception of our
stock repurchase plan, we have purchased our shares at an average
cost of less than $8 per share.
We believe our stock continues to trade at levels significantly
below the fair value of our company and we have increased our
buyback authority to allow us to continue to purchase our shares.
Our management team remains confident in our long-term success and
the growth potential of our business. We have expanded our customer
base over the last year, and work continues on our new
manufacturing and warehouse facility in Carlsbad, CA that we anticipate will be fully
operational in the Fall of 2022."
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, the fair value of our
company, the growth potential of our business, our ability to
acquire our shares on a reasonable basis, development of our new
manufacturing and warehouse facility, as well as future economic
conditions and the impact of such 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.
Web site: http://www.nai-online.com/
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SOURCE Natural Alternatives International, Inc.