Treasury Stock

12 Months Ended

Mar. 31, 2012

Treasury Stock [Abstract]

Treasury Stock

Note G — Treasury Stock

During each of the three fiscal years in the period ended March 31, 2012, the Company continued to repurchase shares of its common stock under a plan originally approved by the Company’s Board of Directors in 1996. Including a 1,000,000 share expansion authorized in February 2012, the total number of shares authorized to be repurchased over the life of the plan is 16,000,000 shares. Purchases may be made from time to time depending on market conditions and other relevant factors. The share repurchases for fiscal years ended March 31, 2010, 2011 and 2012 and cumulatively since inception of the authorization are as follows:

	2010		2011		2012		Cumulative
Shares repurchased		1,092,445		715,975		461,938		14,953,101
Cost	$	32,561,000	$	30,608,000	$	21,643,000	$	270,574,000
Average price	$	29.80	$	42.75	$	46.85	$	18.09

During the period subsequent to March 31, 2012, the Company repurchased 68,117 shares for $2.8 million or an average price of $41.71 per share. The repurchased shares were recorded as treasury stock, at cost, and are available for general corporate purposes. The repurchases were primarily financed from cash generated from operations and from the cash proceeds from the exercise of stock options.