MESQUITE, Texas, Jan. 12 /PRNewswire-FirstCall/ -- ABATIX CORP. (Pink Sheets: ABIX) today announced the Board of Directors has authorized the repurchase of up to $500,000 of the Company's common stock.
Stock repurchases under this program may be made in the open market or through privately negotiated transactions during 2010. This program begins immediately, but could be suspended and restarted at any time without prior notice. The timing and actual number of shares repurchased will depend upon market conditions and other factors. The Company does not anticipate reporting the results of this program except through its quarterly and annual reports.
Terry W. Shaver, President, stated, "We believe this stock repurchase plan represents the best option for our stockholders and reflects the confidence of our management and Board of Directors in the Company's long-term prospects."
More information about the Company, including financial information, can be found on the Abatix web site at www.abatix.com. Information about our wholly-owned subsidiary, IESI, can be found on their web site at www.int-enviroguard.com.
ABATIX CORP. is a full line distributor of construction supplies, fire and water restoration equipment, safety equipment for the industrial manufacturing industry and environmental equipment and supplies for the remediation industry. The Company currently has nine distribution centers in Dallas and Houston, Texas, in San Diego, San Francisco and Los Angeles, California, in Phoenix, Arizona, in Seattle, Washington, in Las Vegas, Nevada and in Jacksonville, Florida. These distribution centers serve customers throughout the Southeast, Southwest, Midwest, Pacific Coast, Alaska and Hawaii.
SOURCE ABATIX CORP.