EQUITY TRANSACTIONS

6 Months Ended

Dec. 31, 2015

EQUITY TRANSACTIONS [Abstract]

EQUITY TRANSACTIONS

NOTE 9 - EQUITY TRANSACTIONS

During the three and six months ended December 31, 2015 and 2014, stock options to purchase shares of the Company’s common stock were exercised as follows:

	Three-Months Ended December 31,				Six-Months Ended December 31,
	2015		2014		2015		2014
	(Unaudited)				(Unaudited)
Options exercised		11,000		10,250		112,425		10,250
Proceeds (in thousands)	$	45	$	21	$	313	$	21
Average exercise price per share	$	3.98	$	2.12	$	2.77	$	2.12

As of December 31, 2015, there was $0.5 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 2.6 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.  On March 5, 2015, the Board approved a two-year extension on the stock repurchase program through January 1, 2017. During the three and six months ended December 31, 2015 and 2014, shares were repurchased as follows:

	Three-Months Ended						Six-Months Ended
	December 31,						December 31,
	2015			2014			2015			2014
	(Unaudited)						(Unaudited)
Shares repurchased			68,022			-			68,022			29,449
Cash paid for shares repurchased (in thousands)		$	540		$	-		$	540		$	128
Average price paid per share		$	7.94		$	-		$	7.94		$	4.35

Total shares repurchased under the program are 259,272 shares at a cost of $1.3 million.  As of December 31, 2015, approximately $1.7 million remained of the Company’s $3.0 million repurchase program.  Sharps purchased all shares with cash resources.