Energy Recovery, Inc. (NasdaqGS:ERII) announces a share repurchase program. Under the program, the company will repurchase up to $6 million worth of its outstanding common stock. Purchases of shares may be made from time to time in the open market, or in privately negotiated transactions, in compliance with applicable state and federal securities laws.

The repurchases will be funded from the company's cash in hand. This authorization underscores company's confidence in the strength of its business and compelling short and long-term growth prospects. The timing and amounts of any purchases will be based on market conditions and other factors including price, regulatory requirements, and capital availability.

The share buyback program does not obligate the company to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time without prior notice. As of December 31, 2015, the company had approximately 52,000,000 shares of common stock issued and outstanding.