The Board of Directors of Sharps Compliance Corp. (NasdaqCM:SMED) authorized a share repurchase program on January 3, 2013. Under the program, the company will repurchase up to $3 million of its outstanding common stock from time to time on the open market or in privately negotiated transactions.

The repurchases will be funded using the company's available cash balances and cash generated from operations. The repurchase program provides an opportunity to return value to shareholders while retaining the flexibility to fund the company's growth. The repurchases in each case will be in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

The repurchases will be at the company's discretion and will be subject to market and business conditions, applicable legal requirements, explicit black-out dates and other factors. The program does not obligate the company to acquire any particular amount of common stock and the program may be modified, suspended or terminated at any time at the company's discretion. The repurchase program is effective immediately and is valid for a period of two years.