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Share-based Compensation (Tables)
12 Months Ended
Jun. 30, 2012
Share-based Compensation.  
Schedule of share-based compensation costs recognized in the entity's statements of income, substantially all of which is reflected in the selling, general and administrative expense line

 

 

 

 

Twelve months ended June 30,

 

(In thousands)

 

2012

 

2011

 

2010

 

Share based compensation

 

 

 

 

 

 

 

Stock options

 

$

1,436

 

$

1,013

 

$

1,173

 

Employee stock purchase plan

 

$

57

 

$

57

 

$

53

 

Restricted stock

 

$

669

 

$

754

 

$

812

 

Tax benefit at statutory rate

 

$

138

 

$

88

 

$

80

 

Schedule of weighted average assumptions used to estimate fair values of the stock options granted and the estimated annual forfeiture rates used to recognize the associated compensation expense

 

 

 

 

Incentive
Stock
Options
FY 2012

 

Non-
qualified
Stock
Options
FY 2012

 

Incentive
Stock
Options
FY 2011

 

Non-
qualified
Stock
Options
FY 2011

 

Incentive
Stock
Options
FY 2010

 

Non-
qualified
Stock
Options
FY 2010

 

Risk-free interest rate

 

1.09

%

1.04

%

1.74

%

%

2.44

%

2.43

%

Expected volatility

 

63.5

%

63.7

%

61

%

%

67

%

67

%

Expected dividend yield

 

0.0

%

0.0

%

0.0

%

%

0.0

%

0.0

%

Forfeiture rate

 

7.5

%

7.5

%

7.5

%

%

5.0

%

5.0

%

Expected term (in years)

 

5.2 years

 

5.2 years

 

6.0 years

 

n/a

 

5.0 years

 

5.0 years

 

Weighted average fair value

 

$

2.03

 

$

2.00

 

$

3.03

 

$

 

$

3.98

 

$

4.00

 

Schedule of options outstanding that have vested and are expected to vest

Options outstanding that have vested and are expected to vest as of June 30, 2012 are as follows:

 

(In thousands, except weighted average price and life data)

 

Awards

 

Weighted
Average
Exercise
Price

 

Aggregate
Intrinsic
Value

 

Weighted
Average
Remaining
Contractual
Life (yrs.)

 

Options vested

 

1,724

 

$

7.69

 

$

226

 

4.42

 

Options expected to vest

 

947

 

$

4.32

 

$

458

 

8.82

 

Total vested and expected to vest

 

2,671

 

$

6.50

 

$

684

 

5.98

 

Summary of stock option award activity

 

 

 

 

Incentive Stock Options

 

Nonqualified Stock Options

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

Weighted-

 

 

 

Average

 

 

 

Weighted-

 

 

 

Average

 

 

 

 

 

Average

 

Aggregate

 

Remaining

 

 

 

Average

 

Aggregate

 

Remaining

 

 

 

 

 

Exercise

 

Intrinsic

 

Contractual

 

 

 

Exercise

 

Intrinsic

 

Contractual

 

(In thousands, except for weighted average price and life data)

 

Awards

 

Price

 

Value

 

Life (yrs.)

 

Awards

 

Price

 

Value

 

Life (yrs.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at July 1, 2011

 

1,196

 

$

6.19

 

$

 

 

 

 

750

 

$

9.77

 

 

 

 

 

Granted

 

725

 

$

3.74

 

 

 

 

 

127

 

$

3.72

 

 

 

 

 

Exercised

 

(8

)

$

3.21

 

$

7

 

 

 

 

 

 

 

 

Forfeited, expired or repurchased

 

(43

)

$

5.59

 

$

 

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2012

 

1,870

 

$

5.27

 

$

593

 

6.9

 

877

 

$

8.89

 

$

133

 

4.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2012 and not yet vested

 

878

 

$

4.29

 

$

424

 

8.8

 

145

 

$

4.25

 

$

76

 

8.8

 

Exercisable at June 30, 2012

 

992

 

$

6.13

 

$

169

 

5.2

 

732

 

$

9.81

 

$

57

 

3.4

 

 

 

 

Incentive Stock Options

 

Nonqualified Stock Options

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

Weighted-

 

 

 

Average

 

 

 

Weighted-

 

 

 

Average

 

 

 

 

 

Average

 

Aggregate

 

Remaining

 

 

 

Average

 

Aggregate

 

Remaining

 

 

 

 

 

Exercise

 

Intrinsic

 

Contractual

 

 

 

Exercise

 

Intrinsic

 

Contractual

 

(In thousands, except for weighted average price and life data)

 

Awards

 

Price

 

Value

 

Life (yrs.)

 

Awards

 

Price

 

Value

 

Life (yrs.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at July 1, 2010

 

1,309

 

$

6.11

 

 

 

 

 

750

 

$

9.77

 

 

 

 

 

Granted

 

2

 

$

5.35

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

(73

)

$

3.87

 

$

144

 

 

 

 

 

 

 

 

Forfeited, expired or repurchased

 

(42

)

$

7.71

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2011

 

1,196

 

$

6.19

 

$

453

 

6.5

 

750

 

$

9.77

 

$

143

 

4.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2011 and not yet vested

 

397

 

$

6.46

 

$

94

 

8.2

 

76

 

$

6.99

 

$

 

8.3

 

Exercisable at June 30, 2011

 

799

 

$

6.06

 

$

359

 

5.7

 

674

 

$

10.08

 

$

143

 

4.0

 

 

 

 

Incentive Stock Options

 

Nonqualified Stock Options

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

Weighted-

 

 

 

Average

 

 

 

Weighted-

 

 

 

Average

 

 

 

 

 

Average

 

Aggregate

 

Remaining

 

 

 

Average

 

Aggregate

 

Remaining

 

 

 

 

 

Exercise

 

Intrinsic

 

Contractual

 

 

 

Exercise

 

Intrinsic

 

Contractual

 

(In thousands, except for weighted average price and life data)

 

Awards

 

Price

 

Value

 

Life (yrs.)

 

Awards

 

Price

 

Value

 

Life (yrs.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at July 1, 2009

 

959

 

$

5.60

 

 

 

 

 

627

 

$

10.52

 

 

 

 

 

Granted

 

507

 

$

6.96

 

 

 

 

 

153

 

$

6.99

 

 

 

 

 

Exercised

 

(112

)

$

4.46

 

$

299

 

 

 

(14

)

$

4.97

 

$

57

 

 

 

Forfeited, expired or repurchased

 

(45

)

$

8.75

 

 

 

 

 

(16

)

$

16.67

 

 

 

 

 

Outstanding at June 30, 2010

 

1,309

 

$

6.11

 

$

350

 

7.5

 

750

 

$

9.77

 

$

89

 

5.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2010 and not yet vested

 

721

 

$

6.07

 

$

180

 

8.9

 

196

 

$

6.20

 

$

49

 

9.0

 

Exercisable at June 30, 2010

 

588

 

$

6.16

 

$

170

 

5.9

 

554

 

$

11.03

 

$

40

 

4.2

 

Summary of nonvested restricted stock awards

 

 

(In thousands)

 

Awards

 

Weighted
Average Grant -
date Fair Value

 

 

 

 

 

 

 

Nonvested at June 30, 2009

 

77

 

$

311

 

Granted

 

399

 

2,697

 

Vested

 

(197

)

(1,192

)

Forfeited

 

(9

)

(37

)

Nonvested at June 30, 2010

 

270

 

1,779

 

Granted

 

32

 

182

 

Vested

 

(144

)

(862

)

Forfeited

 

(3

)

(23

)

Nonvested at June 30, 2011

 

155

 

1,076

 

Granted

 

35

 

127

 

Vested

 

(113

)

(665

)

Forfeited

 

(3

)

(23

)

Nonvested at June 30, 2012

 

74

 

$

515