Printonix Board OKs Stock Buyback

Printonix Inc., Irvine-based manufacturer of industrial strength printers, said its board has authorized the company to buy back up to 1 million additional shares of common stock.

The company’s shares, which have fallen more than 10% since the first of the year, closed Thursday at $12.88, up 13 cents. The stock traded as high as $17 a share last April.

The board had authorized the company to repurchase up to $1 million shares in May.