Common Stock Repurchase

6 Months Ended

Mar. 31, 2018

Common Stock Repurchase [Abstract]

COMMON STOCK REPURCHASE

COMMON STOCK REPURCHASE

On May 2, 2017, our Board of Directors authorized a program to repurchase up to $20.0 million of our common stock primarily to return capital to shareholders. This repurchase authorization expired on May 1, 2018 (see Note 16 to the Condensed Consolidated Financial Statements). Shares repurchased under the program will be made through open market and privately negotiated transactions from time to time and in amounts that management deems appropriate. The amount and timing of share repurchases depends upon market conditions and other corporate considerations. During the third quarter of fiscal 2017, we began to repurchase our common stock on the open market. During the third quarter of fiscal 2017, we repurchased 28,691 shares for $0.3 million. As of March 31, 2018, $19.7 million remained available for repurchase. No further repurchases of common stock were made under this program.