Stock Repurchase Program

12 Months Ended

Mar. 31, 2012

Stock Repurchase Program

Stock Repurchase Program

12.Stock Repurchase Program

In August 2011, our Board of Directors approved a stock repurchase program pursuant to which we may acquire up to $3 million of our outstanding common stock from time to time until August 2012. Under the program, we may repurchase shares in open-market and privately negotiated transactions and block trades and pursuant to a 10b5-1 trading plan during our closed trading windows. There is no guarantee as to the exact number of shares that will be repurchased. We may modify, terminate or extend the repurchase program at any time without prior notice. From inception of this program through March 31, 2012, we repurchased approximately 573,558 shares of our common stock at an average price per share of $1.31. All repurchased shares have been retired and resumed their status as authorized and unissued shares of our common stock.