Virtual Radiologic (VRAD) Announces $8 Million Share Buyback Authorization
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Virtual Radiologic Corp. (Nasdaq: VRAD) announced that its Board of Directors has authorized the repurchase of up to $8 million of the company's outstanding common stock.
"We believe the current valuation of Virtual Radiologic's common stock makes the repurchase of our equity a compelling investment for the company and will enhance shareholder value," said Sean Casey, Chairman and CEO of Virtual Radiologic. "Having $30 million in cash on hand and a growing business that is generating excellent cash flow allows us to invest in Virtual Radiologic stock, as well as other strategic initiatives," Casey added.
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