Stockholders' Equity Transactions

9 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

NOTE 9 – Stockholders’ Equity Transactions

On September 16, 2014 the Company’s board of directors authorized the repurchase of up to 1 million of the approximately 19.4 million shares of the Company’s common stock then outstanding. On December 21, 2018 the Company’s board of directors authorized the repurchase of up to an additional 500,000 shares. As of March 31, 2019 there was an aggregate 434,725 shares that may yet be purchased under the two repurchase plans. The repurchases will be made from time to time in the open market or in privately negotiated transactions subject to market conditions and the market price of the common stock. The Company repurchased 274,065 shares at a weighted average price of $14.59 under these plans during the nine months ended March 31, 2019. Shares repurchased through March 31, 2019 are included in the Company’s Treasury Stock as of March 31, 2019.