HACKENSACK, N.J.--(BUSINESS WIRE)--Emerson Radio Corp. (NYSE American:MSN) today announced that its Board of Directors has approved an increase in the Company’s current stock repurchase program by an additional $5 million, for a total authorization since inception of the program of $10 million. The Board of Directors also approved an extension of the program to June 30, 2018, unless completed sooner or otherwise extended. Through August 31, 2017, the Company has repurchased an aggregate of 2,392,964 shares of its common stock under the program since inception of the program in December 2016 at an average price of $1.46 per share or an aggregate cost of approximately $3.5 million (exclusive of commissions).

As previously announced, the program allows for the repurchase of the Company’s common stock from time to time at prevailing market prices, through open market or in privately negotiated transactions, which may include, in whole or in part, the establishment of a purchase program pursuant to the safe harbor provided by Rule 10b5-1 under the Securities Exchange Act of 1934, through block purchases or through accelerated or forward or similar stock purchases. Under the program, repurchases will be funded from available working capital and any repurchased shares will be held as authorized but unissued shares and will be available for general corporate purposes.

About Emerson Radio Corp.

Emerson Radio Corp. (NYSE American: MSN), incorporated in 1994, is headquartered in Hackensack, N.J. The Company designs, sources, imports and markets a variety of houseware and consumer electronic products, and licenses its trademarks to others on a worldwide basis for a variety of products. For more information, please visit Emerson Radio’s web site at www.emersonradio.com.