Note 10 - Share Repurchase Program

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Treasury Stock [Text Block]

10

. Share Repurchase Program

In

2007,

our Board of Directors approved and we announced a share repurchase program to repurchase up to

one million

shares of our common stock either through purchases on the open market or through private transactions and in accordance with Rule

10b

-

18

of the Exchange Act. In

2015,

our Board of Directors approved and we announced an increase in the share repurchase program, providing for the repurchase of up to

$40

million, or approximately

two million

shares, of our common stock, which was increased by our Board of Directors to

3.3

million shares in

August 2017

to reflect the

five

-for-

three

stock split effected in the form of a stock dividend on

July 7, 2017.

The timing and extent to which we repurchase shares depends on market conditions and other corporate considerations. The repurchase program does

not

have an expiration date.

We repurchased and retired

200,000

shares of our common stock for

$3.8

million in the

fourth

quarter of

2018.

We did

not

repurchase any shares in

2017.

We repurchased and retired

759,302

shares of our common stock for

$7.5

million in the

first

quarter of

2016.

As of

December 31, 2018,

future repurchases of up to

$12.6

million, or

806,000

shares, were available in the share repurchase program.