Sonic Innovations Inc. has been authorized to extend its stock repurchase program initially announced in May for the repurchase of up to 1 million shares.
The Salt Lake-based company's board extended the program until March 31. The company currently has approximately 19.4 million shares outstanding.
The company said the actual number of shares to be repurchased will depend on market conditions. The company has repurchased approximately 719,000 shares since the program was announced.