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Note I - Treasury Stock
3 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Treasury Stock [Text Block]
I
. Treasury Stock
 
On
June
 
2,
2011,
the Board of Directors authorized the repurchase of up to
$2.0
 million of our common stock. On
February 6, 2015,
the Board of Directors authorized a
$1.0
million increase to our stock repurchase plan bringing the total authorized repurchase amount to
$3.0
million. On
May 11, 2015,
the Board of Directors authorized a
$2.0
million increase to our stock repurchase plan bringing the total authorized repurchase amount to
$5.0
million. On
March 28, 2017,
the Board of Directors authorized a
$2.0
million increase to our stock repurchase plan bringing the total authorized repurchase amount to
$7.0
million. Under the repurchase plan, we
may,
from time to time, purchase shares of our common stock, depending upon market conditions, in open market or privately negotiated transactions.
 
During the
three
months ended
September 30,
2017
and
September 30, 2016,
we did
not
repurchase any shares under this repurchase plan.
 
During the
three
months ended
September 30, 2017,
we acquired
734
shares in connection with restricted stock shares that vested during that year at a weighted average cost of
$10.70
per share and a total cost of
$8,000.
  During the
three
months ended
September 30, 2016,
we acquired
6,037
shares from employees in connection with restricted stock shares that vested during the year at a weighted average cost of
$13.14
per share and a total cost of
$79,000.
  These shares were returned to the Company by the related employees and in return the Company paid each employee’s required tax withholding.  The valuation of the shares acquired and thereby the number of shares returned to the Company was calculated based on the closing share price on the date the shares vested.