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Stock-Based Compensation (Tables)
 12 Months Ended
Jun. 30, 2013
Stock-Based Compensation [Abstract]  
Stock Option Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year 2013

 

Fiscal Year 2012

 

 

 

 

Weighted

 

Aggregate

 

 

 

Weighted

 

Aggregate

 

 

 

 

Average

 

Intrinsic

 

 

 

Average

 

Intrinsic

 

 

 

 

Exercise

 

Value (1)

 

 

 

Exercise

 

Value (1)

Shares subject to option

 

Shares

 

Price

 

($000)

 

Shares

 

Price

 

($000)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at beginning of period

 
1,162,996 

 

$
6.81 

 

 

 

 
1,122,919 

 

$
6.60 

 

 

 

New Grants (based on fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

of common stock at dates of grant)

 
164,000 

 

$
5.76 

 

 

 

 
158,000 

 

$
6.00 

 

 

 

Exercised

 
(171,066)

 

$
3.79 

 

 

 

 
(56,504)

 

$
1.54 

 

 

 

Expired

 
(30,705)

 

$
8.79 

 

 

 

 
(33,119)

 

$
6.67 

 

 

 

Forfeited

 
(2,550)

 

$
2.93 

 

 

 

 
(28,300)

 

$
4.49 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at end of period

 
1,122,675 

 

$
7.07 

 

$
1,502 

 
1,162,996 

 

$
6.81 

 

$
678 

Exercisable at end of period

 
846,175 

 

$
7.47 

 

$
940 

 
963,271 

 

$
7.13 

 

$
552 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year 2011

 

 

 

 

 

 

Weighted

 

Aggregate

 

 

 

 

 

 

 

 

 

 

Average

 

Intrinsic

 

 

 

 

 

 

 

 

 

 

Exercise

 

Value (1)

 

 

 

 

 

 

Shares subject to option

 

Shares

 

Price

 

($000)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at beginning of period

 
1,240,529 

 

$
6.29 

 

 

 

 

 

 

 

 

 

 

 

New Grants (based on fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

of common stock at dates of grant)

 
9,000 

 

$
6.42 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 
(82,985)

 

$
2.19 

 

 

 

 

 

 

 

 

 

 

 

Expired

 
(33,763)

 

$
7.35 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 
(9,862)

 

$
3.56 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at end of period

 
1,122,919 

 

$
6.60 

 

$
1,252 

 

 

 

 

 

 

 

 

Exercisable at end of period

 
922,069 

 

$
6.82 

 

$
845 

 

 

 

 

 

 

 

 

 

(1) The intrinsic value of a stock option is the amount by which the current market value of the underlying stock exceeds the exercise price of the option.  The total intrinsic value of stock options exercised during the fiscal years ended June 30, 2013, 2012 and 2011, were $466,000, $220,000 and $270,000, respectively.  The total fair value of shares vested during the fiscal years ended June 30, 2013, 2012 and 2011, were $148,000, $313,000 and $490,000, respectively.

Valuation Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

2011

Weighted average estimated fair value per

 

 

 

 

 

 

 

 

 

share of options granted during the period

 

$
2.27 

 

$
2.46 

 

$
2.77 

Assumptions:

 

 

 

 

 

 

 

 

 

Dividend yield

 

 

 -

 

 

 -

 

 

 -

Common stock price volatility

 

 
44.86% 

 

 
46.14% 

 

 
47.32% 

Risk free rate of return

 

 
0.62% 

 

 
0.90% 

 

 
1.84% 

Expected option term (in years)

 

 
5 

 

 
5 

 

 
5 

 

Shares Authorized under Stock Option Plans, by Exercise Price Range

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding

 

Options Exercisable

 

 

 

 

 

 

 

 

 

 

Weighted

 

Weighted

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

Average

 

Average

 

 

 

Average

 

 

 

 

 

 

 

 

 

 

Remaining

 

Exercise

 

 

 

Exercise

Range of Exercise Prices

 

Shares

 

Contractual Life

 

Price

 

Shares

 

Price

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$
2.80 

 

to

 

$
5.24 

 
150,000 

 
6.02 

 

$
3.41 

 
135,000 

 

$
3.21 

 
5.26 

 

to

 

 
8.00 

 
583,193 

 
5.39 

 

$
6.48 

 
321,693 

 

$
6.95 

 
8.10 

 

to

 

 
12.68 

 
389,482 

 
4.17 

 

$
9.38 

 
389,482 

 

$
9.38 

$
2.80 

 

to

 

$
12.68 

 
1,122,675 

 
5.05 

 

$
7.07 

 
846,175 

 

$
7.47