Stockholders' Equity

12 Months Ended

Jun. 30, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Preferred Stock

The Company has 5.0 million shares of preferred stock authorized, none of which was issued or outstanding at June 30, 2014 or June 30, 2013.

Treasury Shares

On November 6, 2012 the Board of Directors approved an extension of a stock buyback program through calendar year 2014. The program allows the Company to purchase up to 2,113,497 shares of common stock provided that such purchases do not exceed $25.0 million in any calendar year if sufficient liquidity exists and we believe that it is in the best interest of the stockholders. The Company has not purchased any shares under this program since the Board of Directors approved the extension.

In addition to the stock buyback program, the Company may withhold shares of common stock to satisfy the tax withholding obligations upon vesting of an employee’s deferred shares. Matrix withheld 80,096 and 107,344 shares of common stock during fiscal 2014 and fiscal 2013, respectively, to satisfy these obligations. These shares were returned to the Company’s pool of treasury shares. The Company has 1,453,770 treasury shares as of June 30, 2014 and intends to utilize these treasury shares solely in connection with equity awards under the Company’s stock incentive plans.