Share Repurchases

3 Months Ended

Jun. 30, 2011

Share Repurchases

Share Repurchases

Note 8. Share Repurchases

In May 2011, our Board of Directors authorized a new one-year share repurchase program for up to $5.0 million of our outstanding common stock. Common stock repurchases may be made from time to time in the open market at prevailing market prices or through privately negotiated transactions. The amount and timing of all repurchase transactions are contingent upon market conditions, regulatory requirements and alternative investment opportunities. During the first quarter of Fiscal 2012, we repurchased 82,491 shares pursuant to this program at an average price of $17.36 per share for a total of $1.4 million. As of June 30, 2011, $3.6 million remained available for repurchases pursuant to this program.