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Robert W. Humphreys, Delta Apparel's chairman and chief executive officer, commented that under current conditions buying back the company's stock represents a prudent use of cash. "As our stock trades at a price we believe is below its intrinsic value, in our view periodic repurchases are a sound investment opportunity and something that we can pursue without sacrificing future growth plans. We are pleased that the board has provided us with the ability to continue to take advantage of this program as we deem appropriate."
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