Day Runner Reactivates Stock Buyback

Irvine-based Day Runner Inc. said Thursday that it has resumed its program to buy back the company’s stock, which executives consider undervalued.

The stock hit a 52-week low Wednesday after the company, which makes personal organizers, reported disappointing earnings and said it cut 350 jobs. The stock traded as low as $9.25 a share Wednesday before rallying to close at $10.38.

On Thursday, the shares moved up 75 cents to $11.13. The stock traded as high as $25.50 last May.

In 1997, the company’s board authorized the repurchase of up to 1.4 million shares. To date, the company has repurchased about 1.1 million shares.