Stockholders' Equity

9 Months Ended

Mar. 31, 2018

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

During the three and nine months endedMarch 31, 2018, the Company issued 0.2 million and 0.2 million shares, respectively, of restricted stock and 14,000 shares of common stock upon the exercise of warrants and options. During the three and nine months endedMarch 31, 2018, 17,000 and 23,000 shares, respectively, of restricted stock were canceled or surrendered as payment of tax withholding upon vesting.

On November 27, 2017, the Company announced a share repurchase program authorizing it to repurchase up to $5 million in shares of the Company's common stock. The repurchase program permits the Company to purchase shares through a variety of methods, including in the open market, through privately negotiated transactions or other means as determined by the Company's management. As part of the repurchase program, the Company may enter into a pre-arranged stock repurchase plan which will operate in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act. Accordingly, transactions, if any, would be completed in accordance with the terms of the stock repurchase plan, including specified price, volume and timing conditions. The authorization may be suspended or discontinued at any time and expires on November 27, 2020. During the three and nine months endedMarch 31, 2018, the Company purchased 61,000 and 106,000 shares, respectively, of its common stock on the open market at an aggregate purchase price of $0.2 million and $0.5 million, respectively, under this repurchase program. At March 31, 2018, there is $4.5 million remaining under this repurchase program.

The Company’s Certificate of Incorporation authorizes the issuance of preferred shares. However, as of March 31, 2018, none have been issued and no rights or preferences have been assigned to the preferred shares by the Company’s board of directors.