CARLSBAD, Calif., Dec. 5, 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 $1.0 million
increase to its stock repurchase plan bringing the total plan
authorized repurchase amount to $19.0
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 2.1 million shares under this repurchase
plan and after this increase we will have $1.2 million available for future stock
repurchases under the plan.
Mark A. Le Doux, Chairman and
Chief Executive Officer of NAI stated, "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 are committed to expanding our business through growth
in sales and we are excited that our new manufacturing and
warehouse facility in Carlsbad, CA
will become operational early in the new calendar year."
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.