Subsequent Events

3 Months Ended

Sep. 30, 2011

Subsequent Events [Abstract]

Subsequent Events

8. Subsequent Events

          Pursuant to the share repurchase program approved on October 3, 2011 and discussed in Note 2, we have purchased 1,757,660 of our ordinary shares subsequent to September 30, 2011 and through October 21, 2011 for a total cost of $50,415, inclusive of transaction costs.

          On October 21, 2011, we entered into a $250,000 senior unsecured revolving credit facility with a maturity date of October 21, 2016. Any borrowings under the facility will bear interest at LIBOR plus 1.25% to 1.50%, depending on our leverage ratio, which is the ratio of our consolidated total indebtedness to our consolidated earnings before interest, taxes, depreciation and amortization. We must also pay a commitment fee of 0.175% to 0.225% depending on our leverage ratio. The credit agreement evidencing the facility contains customary representations, warranties, covenants and events of default.

          On October 24, 2011, we announced our agreement to acquire Albumprinter Holding, B.V., a leading provider of photo books and other photo products to consumers in Europe, for total cash consideration of up to €65,000, consisting of €60,000 payable upon closing subject to net working capital and net debt adjustments, and up to €5,000 payable based on a performance based earn-out covering the period from January 1, 2012 to December 31, 2012. The transaction is subject to customary closing conditions and is expected to close during the quarter ending December 31, 2011.