RealD Inc. (NYSE: RLD) today announced that its Board of Directors has authorized the repurchase of up to $50 million of RealD’s common stock. “The repurchase authorization demonstrates our confidence in RealD’s future and our commitment to maximizing shareholder value," said Michael V. Lewis, Chairman and Chief Executive Officer of RealD. “Our new $125 million credit facility, further bolstered by our expectation that RealD’s business will generate strong cash flows during the current fiscal year, will allow us to capitalize on opportunities to repurchase shares.” As of April 19, 2012, the Company had approximately $30 million in cash and cash equivalents and unused borrowing capacity was approximately $100 million. The Company has approximately 54.6 million shares of common stock outstanding. The number of shares to be repurchased and the timing of any potential repurchases will depend on factors such as the Company’s stock price, economic and market conditions, alternative uses of capital, and corporate and regulatory requirements. The Company’s insider trading period restrictions require that the window for potential stock repurchases remains closed prior to the announcement of RealD’s financial and operating results for the fourth quarter and fiscal year ended March 23, 2012. In the future, repurchases of common stock may be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when RealD might otherwise be precluded from doing so under insider trading laws, and a variety of other methods, including open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, or by any combination of such methods. The repurchase program may be suspended or discontinued at any time. Establishment of New $125 Million Credit Agreement The Company also announced that it has entered into a new $125 million credit agreement. The facility replaces RealD’s existing credit agreement, which had been most recently amended on December 6, 2011.