SM&A; to Buy Back 200,000 More Shares
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SM&A; Corp. said its board approved a plan to buy back an additional 200,000 shares of the Newport Beach company’s stock, which has slumped this year.
The information technology company said it finished buying back 600,000 shares under its previous repurchase plan at an average price of $7.63 each.
The stock, which traded as high as $32.75 a share last September, closed Tuesday at $7 a share, off 13 cents. The shares have lost about 63% of their value this year.
The company also named Daniel P. O’Connell corporate controller. O’Connell formerly served as controller for SBI Inc.
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