Subsequent Events

6 Months Ended

Jun. 30, 2014

I.	Subsequent Events

We have evaluated all events and transactions that occurred through the date on which we issued these financial statements. Other than as noted below, we did not have any material subsequent events that impacted our condensed consolidated financial statements.

On July 23, 2014, we declared a dividend of $0.07 payable on August 14, 2014, to shareholders of record on August 4, 2014.

On July 24, 2014, the Board of Directors authorized a new common stock repurchase program under which we are authorized to repurchase up to 250,000 shares of our common stock from time to time. We may repurchase our common stock in open market purchases or in privately negotiated transactions. We will determine the timing and amount of any shares repurchased based on our evaluation of market conditions and other factors. The repurchase program may be suspended or discontinued at any time. Any repurchased shares will be available for use in connection with our stock plans and for other corporate purposes. The repurchase program will be funded by our working capital.

We were recently notified by the Internal Revenue Service that the Company has been selected for an audit of its 2012 federal income tax return. While we do not anticipate any material adjustments resulting from the audit at this time, we are unable to fully assess the risks and exposure at this early stage of the audit.