XML 35 R14.htm IDEA: XBRL DOCUMENT

STOCK REPURCHASES - Note 10

9 Months Ended

Dec. 31, 2011

Notes to Financial Statements

STOCK REPURCHASES - Note 10

10. STOCK REPURCHASES

On October 19, 2010, the Company's board of directors authorized the Company to create a new stock repurchase plan to purchase up to $10.0 million of its common stock from time to time until October 19, 2011. The stock repurchase plan expired on October 19, 2011. The stock repurchase activity under this plan for the nine months ended December 31, 2011 is summarized as follows:

					Weighted
					Average
		Shares			Price			Amount
		Repurchased			Per Share			Repurchased
Balance at March 31, 2011		3,870,985		$	2.26		$	8,022,690
Repurchase of common stock		301,800			2.95			888,964
Balance at December 31, 2011		4,172,785		$	2.33		$	8,911,654

The total purchase prices of the common stock repurchased and retired were reflected as a reduction to stockholders' equity during the period of repurchase.

Tabular disclosure of an entity's treasury stock, including the average cost per share, carrying basis for each class of treasury stock, description of share repurchase program authorized by an entity's board of directors, the number of shares repurchased, the cost of the shares repurchased, the remaining maximum dollar value of shares available for repurchase under the program, the treatment of the purchase price in excess of the current market value, number of shares held for each class of treasury stock, and other information necessary to a fair presentation.

+ References+ Details