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EQUITY
9 Months Ended
Sep. 30, 2012
EQUITY

NOTE 8: EQUITY

In September 2012 and February 2011, we issued 60,855 and 372,992 shares, respectively, of common stock in connection with a business acquisition as described in Note 13.

We periodically sell shares of common stock to the trustee of our 401(k) savings and retirement plan to satisfy the plan participants’ elections to invest in our common stock. The resulting cash proceeds provide a means of improving cash flow, increasing equity and reducing leverage. Under this arrangement, the stock issuances and resulting cash proceeds were as follows:

 

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nine months ended September 30, 2012 — 0 shares issued

 

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twelve months ended December 31, 2011 — issued 110,881 shares for cash proceeds of $4,745,000

 

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nine months ended September 30, 2011 — issued 110,881 shares for cash proceeds of $4,745,000

No shares were held in treasury as of September 30, 2012, December 31, 2011 and September 30, 2011. As of September 30, 2012, 3,411,416 shares may be repurchased under the current purchase authorization of our Board of Directors.