EQUITY TRANSACTIONS

3 Months Ended

Sep. 30, 2014

EQUITY TRANSACTIONS [Abstract]

EQUITY TRANSACTIONS

NOTE 9 - EQUITY TRANSACTIONS

During the three months ended September 30, 2014 and 2013, there were no exercises of stock options to purchase shares of the Company’s common stock.

As of September 30, 2014, there was $0.4 million of stock option and restricted stock compensation expense related to non-vested awards which is expected to be recognized over a weighted average period of 2.93 years.

On January 7, 2013, the Company announced that its Board of Directors approved a stock repurchase program effective January 3, 2013, authorizing the Company to repurchase in the aggregate up to $3.0 million of its outstanding common stock over a two-year period.During the three months ended September 30, 2014 and 2013, shares were repurchased as follows:

	Three-Months Ended
	September 30,
	2014		2013
	(Unaudited)
Shares repurchased		29,449		19,000
Cash paid for shares repurchased (in thousands)	$	128	$	52
Average price paid per share	$	4.35	$	2.71

Total shares repurchased under the program are 191,250 shares at a cost of $0.8 million.  As of September 30, 2014, approximately $2.2 million remained of the Company’s $3.0 million repurchase program.  Sharps purchased all shares with cash resources.