SHARE REPURCHASE

6 Months Ended

Sep. 30, 2011

SHARE REPURCHASE [Abstract]

SHARE REPURCHASE

11. SHARE REPURCHASE

On August 11, 2009, our Board authorized a share repurchase plan, which has been amended over time. The last amendment was on August 12, 2010 whereby our Board authorized share repurchases of up to 500,000 commencing on September 16, 2010 and was due to expire on September 15, 2011. On August 15, 2011, our Board authorized a new share repurchase plan which authorized share repurchases up to 500,000 over a 12-month period commencing on September 16, 2011. The purchases may be made from time to time in the open market, or in privately negotiated transactions, subject to availability. Any repurchased shares will have the status of treasury shares and may be used, when needed, for general corporate purposes.

During the six months ended September 30, 2011, we repurchased 387,958 shares of our outstanding common stock at an average cost of $24.96 per share for a total purchase price of $9.7 million. Since the inception of our initial repurchase program on September 20, 2001 to September 30, 2011, we have repurchased 4.3 million shares of our outstanding common stock at an average cost of $12.85 per share for a total purchase price of $55.5 million.