Stockholders' Equity

9 Months Ended

Mar. 31, 2015

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

During the three and nine months endedMarch 31, 2015 the Company issued 0.1 million and 0.3 million shares, respectively, of restricted stock and 1.1 million and 2.6 million shares, respectively, of common stock upon the exercise of warrants and options. During the three and nine months endedMarch 31, 2015, 451,000 and 538,000 shares, respectively, 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 $4.0 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 of 1934. The pre-arranged stock repurchase program terminated in accordance with its terms on December 31, 2014. Pursuant to the program, the Company purchased 3.0 million shares of its common stock at an aggregate purchase price of $4.0 million, representing the entire amount authorized under the program for repurchases.

On November 6, 2014 the Company announced a share repurchase program authorizing it to repurchase up to $7.0 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 of 1934. The pre-arranged stock repurchase program terminated in accordance with its terms on February 13, 2015. Pursuant to the program, the Company purchased 4.5 million shares of its common stock at an aggregate purchase price of $5.9 million. The remaining $1.1 million authorized under this program for repurchases was unused.

The Company’s Articles of Incorporation authorize the issuance of preferred shares. However, as of March 31, 2015, none have been issued nor have any rights or preferences been assigned to the preferred shares by the Company’s Board of Directors.