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Aldila Inc. today announced that its board of directors has authorized the repurchase of up to 1.0 million shares of the company’s common stock (or up to 6.5% of the 15,462,204 shares currently issued and outstanding.) “We believe that the company’s common stock is undervalued at its current price and will represent an attractive investment opportunity for the company as well as its stockholders,” said Peter R. Mathewson, chairman and CEO. The shares will be repurchased from time to time in the market at then prevailing prices, depending on the market and general economic conditions, Aldila said. Aldila is the golf industry’s leading manufacturer of graphite golf shafts used in clubs assembled and marketed throughout the world by major golf club companies, component distributors and custom clubmakers. Aldila manufactures composite prepreg material for its golf shaft business and external sales, and through its ownership interest in Carbon Fiber Technology LLC, externally manufactures carbon fiber for internal use.
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