Note 8 - Stockholders' Equity

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Shareholders' Equity and Share-based Payments [Text Block]

8

.  STOCKHOLDERS’ EQUITY

Stock Repurchase Program

On

October 25, 2016,

the Board of Directors adopted a program (the

“2016

Program”) that was effective immediately to repurchase up to

$25.0

million of the Company’s common stock both on the open market and in privately negotiated transactions over the next

two

years. On

May 29, 2018,

the Board of Directors terminated the

2016

stock repurchase program, and adopted a new program (

“2018

Program”) to repurchase up to

$25.0

million of the Company’s common stock both on the open market and in privately negotiated transactions over the next

two

years. During the year ended and as of

December 31, 2019

, the Company repurchased approximately

785,000

shares at an average price of

$12.43

per share, for a total price of

$9.8

million, under the

2018

Program. During the year ended

December 31, 2018,

the Company repurchased

437,000

shares at an average price of

$12.01

per share, for a total price of 

$5.2

million under the

2016

program and

no

shares were repurchased under the

2018

program. As of

May 29, 2018,

the Company had repurchased approximately

1,279,000

shares at an average price of

$14.59

per share, for a total price of

$18.7

million, under the

2016

Program. Under the

2018

program, as of

December 31, 2019

,

$15.2

million of the Company's common stock remained available for future repurchases.