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Share Repurchase Program
3 Months Ended
Dec. 31, 2012
Share Repurchase Program  
Share Repurchase Program

Note J — Share Repurchase Program

 

On March 3, 2009, the Company announced its intention to repurchase some of its outstanding common shares pursuant to its previously authorized share repurchase program. Up to 2,000,000 shares may be repurchased from time to time on the open market, or pursuant to negotiated or block transactions, in accordance with applicable Securities and Exchange Commission regulations. During the three months ended December 31, 2012, the Company did not repurchase any shares.  During the three months ended December 31, 2011, the Company repurchased 150,900 common shares at an average price of $7.21 per share. Total cash consideration for the repurchased shares was approximately $1,089,000. As of December 31, 2012, there remained 1,278,947 shares that may be purchased under the program.