Sharps Compliance (SMED) Adds Two-Year Extension to Buyback Plan

Sharps Compliance (Nasdaq: SMED) announced that its Board of Directors has approved a two-year extension of its Stock Repurchase Plan ("Plan") through January 1, 2017. The Plan was originally launched in January 2013, authorizing the Company to repurchase in the aggregate up to $3 million of its outstanding common stock over a two-year period. The Company purchased $809,175 (191,250 shares) under the Plan to date, leaving a remaining authorized amount of $2,190,825 in the Plan.

David P. Tusa, President and CEO of Sharps Compliance commented, "The Board's decision to extend the current stock repurchase program affirms the confidence we have in the Company's strategic direction and market opportunities. With our solid balance sheet, this repurchase authorization offers an opportunity to return value to shareholders while retaining the flexibility to fund our growth."

The shares would be purchased from time to time on the open market or in privately negotiated transactions, at the Company's discretion, in each case, in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, subject to market and business conditions, applicable legal requirements, explicit black-out dates and other factors. The purchases will be funded using the Company's available cash balances and cash generated from operations. The program does not obligate the Company to acquire any particular amount of common stock and may be modified, suspended or terminated at any time at the Company's discretion in accordance with Rule 10b-18.

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