IRIS International announces approval of share repurchase program

IRIS International, Inc. (Nasdaq:IRIS), a leading manufacturer of automated in-vitro diagnostics systems and consumables for use in hospitals and commercial laboratories worldwide, today announced that, effective immediately, its Board of Directors has approved a repurchase program for up to $10 million in shares of the Company's common stock over a twelve month period.

César García, Chairman, President and Chief Executive Officer, stated, "We believe the authorization of a share repurchase program at this time is a reflection of the Board's confidence in the future of our business and reaffirms our commitment to enhancing shareholder value."

The repurchase program will be funded through the Company's strong cash position. As of June 30, 2010, IRIS International had approximately $37 million in cash with no debt. Share repurchases under this program may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions or otherwise, or by any combination of such methods. The timing and actual number of shares repurchased will depend on a variety of factors including the common share price, corporate and regulatory requirements and other market and economic conditions. The share repurchase program may be suspended or discontinued at any time.