Stock Repurchase Program

3 Months Ended

Nov. 30, 2012

Stock Repurchase Program [Abstract]

Stock Repurchase Program

3. Stock Repurchase Program

     On August 15, 2012, the Company's Board of Directors approved a stock repurchase program. Under this program, the Company is authorized to purchase up to $40 million of its outstanding shares of common stock through August 31, 2013. During the first quarter of fiscal year 2013, approximately 1.8 million shares were acquired pursuant to this program for a total cost of $18.1 million. As of November 30, 2012, the total remaining amount authorized for repurchase was $20.8 million. Share repurchases may be made from time to time in the open market or in negotiated transactions, depending on share price, market conditions and other factors. The stock repurchase program may be extended, modified, suspended or discontinued at any time. In December 2012, subsequent to the end of the first quarter of fiscal year 2013, the Company purchased an additional 0.6 million shares under this program for a total cost of $6.0 million.