Stockholders' Equity

9 Months Ended

Mar. 31, 2014

Stockholders' Equity

Stockholders' Equity

9.  Stockholders’ Equity

Stock Repurchases

On April 23, 2014, our Board of Directors approved a share repurchase program for up to $200 million worth of our common stock. This share repurchase program replaced the program previously approved by the Board of Directors on April 23, 2013 which was terminated on April 23, 2014 and had a value of up to $150 million and remaining capacity of approximately $37.5 million at that time. The program approved on April 23, 2013 had replaced a repurchase program with a value of up to $100 million which had been approved by the Board of Directors on October 24, 2012. The program approved on October 24, 2012 had replaced a repurchase program with a value of up to $100 million which had been approved by the Board of Directors on November 1, 2011. The timing and amount of any shares repurchased are based on market conditions and other factors.  All share repurchases of our common stock have been recorded as treasury stock under the cost method.

We repurchased 2,346,434 shares of our common stock for $88.9 million during the nine months ended March 31, 2014. We repurchased 3,064,151 shares of our common stock for $84.7 million during fiscal 2013. As of March 31, 2014, the remaining dollar value under the stock repurchase program approved on April 23, 2013 was $45.5 million.

Accumulated Other Comprehensive Income

As of March 31, 2014, accumulated other comprehensive income was comprised of foreign translation adjustments of $8.6 million and net unrealized gains on available for sale securities of less than $0.1 million. As of June 30, 2013, accumulated other comprehensive income was comprised of foreign translation adjustments of $7.3 million and net unrealized losses on available for sale securities of ($0.1) million.