Stockholders' Equity

12 Months Ended

Jun. 30, 2016

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

During the years ended June 30, 2016, 2015, and 2014, the Company issued 0.1 million, 0.4 million, and 0.7 million shares, respectively, of common stock as a result of the exercise of options and warrants and during the years ended June 30, 2016, 2015, and 2014, the Company issued 0.1 million, 0.2 million, and 32,000 shares, respectively, of restricted common stock. During the year ended June 30, 2016, 0.1 million shares of restricted stock were canceled or surrendered as payment of tax withholding upon vesting.

On November 6, 2014, the Company announced a share repurchase program authorizing it to repurchase up to $7 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, as amended (the "1934 Act"). The pre-arranged stock repurchase program terminated in accordance with its terms on February 13, 2015. Pursuant to the program, the Company purchased 0.6 million shares of its common stock at an aggregate purchase price of $5.9 million. The remaining $1.1 million authorized under the program for repurchases was unused.

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 1934 Act. The pre-arranged stock repurchase program terminated in accordance with its terms on December 31, 2014. Pursuant to the program, the Company purchased 0.4 million shares of its common stock at an aggregate purchase price of $4 million under this repurchase program.

On March 11, 2014 the Company announced a share repurchase program authorizing it to repurchase up to $3 million of 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 1934 Act. The pre-arranged stock repurchase program terminated in accordance with its terms on June 8, 2014. Pursuant to the program, the Company purchased 0.3 million shares of its common stock at an aggregate purchase price of $3 million under this repurchase program.

On November 1, 2013, the Company accepted for payment an aggregate of 2.3 million shares of its common stock at an aggregate purchase price of $40 million as a result of its modified Dutch auction tender offer (the "Tender Offer") that expired October 25, 2013. The Company incurred transaction costs of $0.3 million related to the Tender Offer. The Company entered into the October 2013 Credit Facility to finance this repurchase. (see Note 6).

On March 22, 2013 the Company announced a share repurchase program authorizing it to repurchase up to $5 million of 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 1934 Act. The pre-arranged stock repurchase program terminated in accordance with its terms on December 1, 2013. Pursuant to the program, the Company purchased 0.3 million shares of its common stock at an aggregate purchase price of $5 million under this repurchase program.

The Company’s Articles of Incorporation authorize the issuance of preferred shares. However, as of June 30, 2016, none have been issued nor have any rights or preferences been assigned to the preferred shares by the Company’s Board of Directors.