Note 9 - Stock Repurchase Program

12 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Stock Repurchase Plan Disclosure [Text Block]

NOTE

9.

STOCK REPURCHASE PROGRAM

On

January 21, 2009

we announced that our Board of Directors authorized the repurchase of up to

$2,500,000

of our Common Stock from time to time in open market, block, or privately negotiated transactions. The timing and extent of any repurchases depends on market conditions, the trading price of the company's stock, and other factors, and subject to the restrictions relating to volume, price, and timing under applicable law. On

August 

27,

2015,

we announced that our Board of Directors authorized up to

$5,000,000

of additional repurchases. Our repurchase program does

not

have an expiration date and does

not

obligate us to purchase any shares. The Program

may

be modified or discontinued at any time without notice. We intend to finance any stock repurchases with cash provided by operating activities or maturating marketable securities. We repurchased

1,806

shares of our Common Stock in fiscal

2021

and

12,972

shares in fiscal

2020.

The remaining authorization was

$3,762,040

as of

March 

31,

 

2021.

The Stock Repurchase Program

may

be modified or discontinued at any time without notice.