Note M - Stockholders' Equity

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE M—STOCKHOLDERS’ EQUITY

During the

first

nine

months of

2019,

the Company did

not

repurchase any shares of common stock.

During the

first

nine

months of

2018,

the Company repurchased

803,762

shares of common stock at an average purchase price of

$12.23

per share for an aggregate purchase price of

$9,827.

As of

September 

30,

2019,

794,913

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. The Company reissues treasury shares pursuant to its stock purchase plan, upon exercise of options and upon vesting of restricted stock units. Reissuance of treasury shares is accounted for in accordance with ASC

No.

505

-

30

whereby gains are credited to additional paid-in capital and losses are charged to additional paid-in capital to the extent that previous net gains are included therein; otherwise losses are charged to retained earnings.

During the

first

nine

months of

2019,

the Company issued approximately

737,000

shares of common stock out of treasury stock to employees who exercised their stock options, SARs or vested RSUs, or purchased shares from the Company’s

1993

Employee Stock Purchase Plan.