STOCK REPURCHASES - Note 10

3 Months Ended

Jun. 30, 2011

STOCK REPURCHASES - Note 10

 10. STOCK REPURCHASES

On October 19, 2010, the Company's board of directors authorized the Company to create a new stock repurchase plan to purchase up to $10.0 million of its common stock from time to time until October 19, 2011. Share repurchases, if any, will be funded with available cash. Repurchases under the repurchase plans may be made through open market purchases at prevailing market prices or in privately negotiated transactions. The timing, volume and nature of share repurchases are subject to market prices and conditions, applicable securities laws and other factors, and are at the discretion of the Company's management. Share repurchases under the repurchase plans may be commenced, suspended or discontinued at any time. The remaining authorized repurchase amount at June 30, 2011 under the $10.0 million repurchase plan was $4.1 million. The stock repurchase activity for the three months ended June 30, 2011 is summarized as follows:

			Weighted
			Average
	Shares		Price		Amount
	Repurchased		Per Share		Repurchased
Balance at March 31, 2011	3,870,985	$	2.26	$	8,022,690
Repurchase of common stock	301,800		2.95		888,964
Balance at June 30, 2011	4,172,785	$	2.33	$	8,911,654

The total purchase prices of the common stock repurchased and retired were reflected as a reduction to stockholders' equity during the period of repurchase.