Stockholders' Equity

3 Months Ended

Sep. 30, 2014

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

During the three months endedSeptember 30, 2014 the Company issued 50,000 shares of restricted stock and 107,000 shares of common stock upon the exercise of warrants and options. During the three months endedSeptember 30, 2014, 69,000 shares of restricted stock were canceled or surrendered as payment of tax withholding upon vesting.

On June 3, 2014 the Company announced a share repurchase program authorizing it to repurchase up to $4 million in shares of the Company's common stock. As part of that repurchase program, the Company entered into a pre-arranged stock repurchase plan that operated in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act. As of September 30, 2014, the Company had purchased 1.4 million shares of its common stock at an aggregate purchase price of $2.0 million under this repurchase program. At September 30, 2014 there is $2.0 million remaining under this program for repurchases.

The Company’s Articles of Incorporation authorize the issuance of preferred shares. However, as of September 30, 2014, none have been issued nor have any rights or preferences been assigned to the preferred shares by the Company’s Board of Directors.