STOCKHOLDERS' EQUITY

6 Months Ended

Sep. 30, 2013

STOCKHOLDERS' EQUITY [Abstract]

STOCKHOLDERS' EQUITY

9. STOCKHOLDERS’ EQUITY

On August 13, 2012, our Board authorized a new share repurchase plan which authorized share repurchases up to 500,000 shares commencing on September 16, 2012, through September 15, 2013. 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, 2013, we repurchased 62,986 shares of our outstanding common stock at an average cost of $53.92 per share for a total purchase price of $3.4 million. Since the inception of our initial repurchase program on September 20, 2001 to September 30, 2013, we have repurchased 4.7 million shares of our outstanding common stock at an average cost of $14.47 per share for a total purchase price of $68.7 million.