Specialty pharmaceutical company Sciele Pharma Inc. said Monday it has authorized a new share repurchase program of up to $100 million over the next 12 months. Sciele had about 35.6 million shares outstanding as of its latest count with the Securities and Exchange Commission on Oct. 24. The company's existing $40 million buyback, which had about $10 million in shares left to be repurchased, has been canceled. The buyback was set to expire on Aug. 2. The company also recently reported an 11.5 percent decline in net income for the first quarter. The Atlanta-based pharmaceutical company (NASDAQ: SCRX) had net income of $11.5 million on $100.4 million in revenue, compared with net income of $13 million on $82.3 million in revenue in the first quarter of 2007. Earnings were 32 cents a share, compared with earnings of 36 cents a share in the first quarter of 2007. "The first quarter of 2008 marked the launch of four new products for Sciele: the new Sular formulation, Prandin, Fenoglide, and Allegra ODT," said Patrick Fourteau, CEO of Sciele Pharma. "Additionally, in April 2008, Sciele began marketing our fifth new product, the Twinject epinephrine auto-injector for the treatment of severe allergic reactions and anaphylaxis... Products in our Pediatrics, Women's Health and Diabetes businesses are expected to be the key growth drivers for the company this year." During the second half of 2008, the company expects to introduce, upon FDA approval, LARx for the treatment of head lice and MetPrandin for Type II diabetes. It also will launch a new Prenate Elite formulation. The stock trades for 8x cash flow.

Taser International Inc. recently announced it's board approved a plan to repurchase up to $12.5 million in common stock. This week the company also reported two orders totaling 650 of its devices to be sent to police forces internationally. The Scottsdale-based company will sell 500 of its X26 devices to a foreign police department whose name the company would not release. An additional 150 will be sold to the Lexington Division of Police in Lexington, Ky. The stock has a forward PE of 22 .

Omnicell Inc., which makes patient safety products, recently said it will buy back $50 million in stock over the next year. The buyback is expected to add to earnings, the company said. In a statement, the company said the move reflects the belief that the stock is undervalued and does not reflect the "intrinsic value" of the company. Last week, the Mountain View, Calif., company lowered its full-year profit and sales growth outlook, citing uncertainty about incoming orders. The stock has a PE of 11.

Dental products company Align Technology Inc. recently announced its board of directors authorized a stock buyback program of up to $50 million, effective immediately. The company said the program will allow it to offset any dilution from its employee equity plans. Align Technology said that as of April 25, it had about 69.6 million shares outstanding. Also, Barrington Research upgraded the Santa Clara, Calif., company to market perform from underperform after a solid earnings beat. The company announced first-quarter profit of $5.3 million, or 7 cents a share, vs. $7 million, or 10 cents a share, a year ago. Analysts were looking for EPS of 3 cents. The stock has a PE of 24.

IDT recently announced that its Board of Directors has approved a $100 million expansion of the previously authorized share repurchase program to a total of $500 million, of which approximately $140 million remains available for share repurchases. The maker of semiconductors and modules also recently announced a higher-than-expected profit in the fourth quarter, and analysts cheered its prospects. For the quarter ended March 30, the company earned $17.1 million, or 10 cents per share, compared with a loss of $3.4 million, or 2 cents per share, in the year-ago period. IDT said its results were hurt by $24.7 million of acquisition-related charges and $8.2 million of stock-based compensation expenses. Oppenheimer & Co. analyst Allan Mishan called the results better than expected, and was cheered by the company's gross margin improvement, which he called a pleasant surprise. The stock trades for 11x cash flow.

Industrial equipment manufacturer Dresser-Rand Group Inc. said Thursday that its board has authorized a stock the repurchase of $150 million, or about 5 percent, of its common stock. The company had 86 million shares outstanding as of March 31. The company, which makes compressors, turbines and other machinery, also recently announced that its first-quarter profit rose 77 percent on increased sales of both new equipment and replacement parts and services. The stock has a forward PE of 14.

Business software company Tibco Software Inc. said Monday it plans to buy back up to $300 million of its shares. The new program replaces Tibco's previous $300 million repurchase program, under which there was about $70 million still remaining. The stock has a forward PE of 14.

The New York insurance and financial services provider just approved a new $1 billion stock repurchase plan. This new buyback comes on top of the company's previously announced $1 billion dollar buyback announced in January which has $261 million remaining on it. The insurance giant recently reported first quarter earnings with net income shrinking by 37% due to turbulent financial markets and a weak dollar. However, operating income grew 3%. Most insurers focus on this number, which excludes investment losses, which they don’t feel is a reflection of their core business. A few bright spots include fees and premiums growing at 12% and 23% growth in the institutional business, fueled by retirement and savings products. "Despite the challenges posed by the credit and equity markets, we continued to execute well on our plans," said Chief Executive C. Robert Henrikson, in a statement. On the analyst front, Friedman, Billings, Ramsey & Co’s Randy Binner cut his target price but remained bullish on the stock with an implied 24% return from current prices. While dropping his price to $75 from $76 per share, Binner noted the following: "We continue to favor MetLife given its lower credit exposure relative to other life insurers," Binner said in a note to clients. "While some investors are looking beyond credit issues, we believe credit will remain an important topic as the current cycle unfolds."