Note L - Stockholders' Equity

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE l—STOCKHOLDERS’ EQUITY

During

the first nine months of 2016, the Company repurchased approximately 623,000 shares of common stock at an average purchase price of $9.76 per share for an aggregate purchase price of $6,081. As of September

 3

0, 2016, approximately 750,000 shares of common stock remained authorized for repurchase under the Company’s board-authorized share repurchase program.

Repurchases of common stock are accounted for as treasury stock, and result in a reduction of stockholders’

equity. When treasury shares are reissued, the Company accounts for the reissuance in accordance with Accounting Principles Board Opinion No. 6, “Status of Accounting Research Bulletins” and charges the excess of the repurchase cost over issuance price using the weighted average method to accumulated deficit. In the case where the repurchase cost over issuance price using the weighted average method is lower than the issuance price, the Company credits the difference to additional paid-in capital.

During the first nine months of 2016, the Company issued approximately 1,059,000 shares of common stock out of treasury

stock to employees who exercised their stock options, SARs or RSUs, or purchased shares from the Company’s 1993 Employee Stock Purchase Plan.