Ruger Announces Shares Repurchase in Q4 2008
SOUTHPORT, CONNECTICUT– Sturm, Ruger & Company, Inc. (NYSE-RGR), announced that during the fourth quarter of 2008 the Company repurchased 357,000 shares of its common stock for $2.4 million in the open market, including 309,000 shares repurchased in October 2008 and 48,000 shares repurchased in December 2008. These repurchased shares represent 1.8% of the outstanding shares as of the beginning of the fourth quarter of 2008. The average price per share repurchased was $6.74. These repurchases were funded with cash on hand.
At December 31, 2008, $4.7 million remains authorized and available for share repurchases and 19.1 million shares remain outstanding.
About Sturm, Ruger
Sturm, Ruger was founded in 1949 and is one of the nation's leading manufacturers of high-quality firearms for the commercial sporting market. Sturm, Ruger is headquartered in Southport, CT, with manufacturing facilities located in Newport, NH and Prescott, Arizona