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Stock Repurchase Plan
9 Months Ended
Sep. 30, 2012
Stock Repurchase Plan

8. Stock Repurchase Plan

 

In April 2012, the Company’s Board of Directors approved a stock repurchase program (the “2012 Stock Repurchase Program”) which authorized the Company to repurchase up to 1.0 million shares of its common stock.

 

The Company repurchased 29,457 shares of its common stock at an average price of $12.38 per share for an aggregate purchase price of $0.4 million during the quarter ended September 30, 2012 and 248,933 shares at an average price of $12.36 per share for an aggregate purchase price of $3.1 million during the nine months ended September 30, 2012 under the 2012 Stock Repurchase Program. As of September 30, 2012, there were 751,067 shares remaining and authorized for repurchase under the 2012 Stock Repurchase Program.