Note 8 - Stock Repurchase Plan

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Stock Repurchase Plan [Text Block]

(8)

  

STOCK REPURCHASE PLAN

On

October

27,

2015,

our Board of Directors authorized the repurchase of up to

$5,000

of our common stock from time to time on the open market, in compliance with Rule

10b

-

18

under the Securities Exchange Act of

1934

(the “Exchange Act”), or in privately negotiated transactions (the

"2015

Repurchase Plan"). Repurchases

may

also be made under trading plans entered into with RW Baird & Co. (each a

“10b5

-

1

Plan”), which permits shares to be repurchased when we might otherwise be precluded from doing so under insider trading laws. The timing, price and amount of any shares repurchased under the

2015

Repurchase Plan is determined by our management, based on our evaluation of market conditions and other factors. To date, all purchases have been made in accordance with

10b5

-

1

Plans, including the

10b5

-

1

Plan that is currently in place which was entered into on

August

8,

2016,

and provided for purchases to be made so long as the price did not exceed a maximum price. Recently, the price of our shares has exceeded the cap. Management is considering new parameters for future purchases. The

2015

Repurchase Plan does not obligate us to repurchase any particular amount of common stock and

may

be suspended or discontinued at any time without prior notice. The

2015

Repurchase Plan is funded using our operating cash flow or available cash.

During the

three

months ended

March

31,

2017

and

2016,

we repurchased

13,883

and

114,688

shares under the

2015

Repurchase Plan, respectively. The total cost to repurchase these shares was

$62

and

$471,

respectively. As of

March

31,

2017,

we had repurchased a total of

297,020

shares under the

2015

Repurchase Plan at a cost of

$1,195.

All of the repurchased shares were retired.