Interface (NASDAQ: TILE) reported Q1 EPS of $0.13, $0.10 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $221.1 million versus the consensus estimate of $224.84 million.

Share Repurchase Program

The Company also announced that its Board of Directors adopted a new share repurchase program in which the Company is authorized to repurchase up to $100 million of its outstanding shares of common stock, commencing as of today. This announcement follows the completion in the 2017 first quarter of the Company's previously announced $50 million share repurchase program adopted in April 2016. The new program is subject to obtaining an amendment of the Company's syndicated credit facility to permit the repurchase of the fully authorized amount, and the program has no specific expiration date. Purchases made pursuant to the program may be made in either the open market or in privately negotiated transactions from time to time, including pursuant to a 10b5-1 plan, as permitted by federal securities laws and other legal requirements. The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The program does not require the Company to repurchase any specific number or amount of shares and may be amended, suspended or discontinued at any time in the Company's discretion and without notice

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