STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Accumulated Other Comprehensive Income

The changes in accumulated other comprehensive income are included in the table below.

	Nine Months Ended September 30, 2017
	Unrealized Gains and Losses on Short-term Investments			Foreign Currency Items		Total
	(In thousands)
Beginning balance	$	(7	)	$	122	$	115
Other comprehensive income before reclassifications	(14		)	—		(14		)
Amounts reclassified from accumulated other comprehensive income	—			—		—
Net current period other comprehensive income	(14		)	—		(14		)
Ending Balance	$	(21	)	$	122	$	101

Stock Repurchase Program

On November 1, 2007, the Company announced its Board of Directors (the "Board")’ authorized the repurchase of up to $50.0 million of the Company’s common stock (“Stock Repurchase Program”). In addition, on October 22, 2014, the Board authorized another $30.0 million under the share repurchase program. The Company may repurchase its common stock for cash in the open market in accordance with applicable securities laws. The timing and amount of any stock repurchase will depend on share price, corporate and regulatory requirements, economic and market conditions, and other factors. The stock repurchase authorization has no expiration date, does not require the Company to repurchase a specific number of shares, and may be modified, suspended, or discontinued at any time.

During the three months and nine months ended September 30, 2017, the Company repurchased 48,687 shares for $328,000 at an average cost of $6.73 per share, net of transaction costs through open market repurchases. During the three months and nine months ended September 30, 2016, the Company repurchased 105,750 shares for $729,000 at an average cost of $6.90 per share, net of transaction costs through open market repurchases. These amounts repurchased are classified as treasury stock on the Company’s condensed consolidated balance sheet. As of September 30, 2017, the Stock Repurchase Program remains available with approximately $33.4 million that may yet be purchased under the program.