XML 19 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
2. Significant Events and Transactions
9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
NOTE 2 - Significant Events and Transactions

In June 2017, the Company changed its capital return program, authorizing the repurchase of 500,000 shares of the Company's common stock in addition to the 500,000 shares originally authorized, for a total repurchase authorization of 1 million shares, pursuant to a stock repurchase plan in conformity with the provisions of Rule 10b5-1 and Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended. The repurchase program has no termination date. Pursuant to the capital return program, the Company’s Board of Directors declared a quarterly dividend of $0.02 per share of the Company's common stock on September 18, 2017 to shareholders of record as of October 2, 2017. These dividends were paid on October 16, 2017.

 

On September 27, 2017, the Company announced that it was awarded a five-year blanket purchase agreement (BPA) from the U.S. Air Force (USAF). The term of the BPA commenced on September 22, 2017, and expires on September 19, 2022, providing for purchases by the USAF of up to $5,500. The BPA does not specify or guarantee purchase quantities by the USAF or delivery dates. The Company immediately received an initial task order under the BPA totaling approximately $440. The task order is anticipated to be fulfilled during the fourth quarter 2017.