Note 8 - Stock Repurchase Programs

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Common Stock Repurchases [Text Block]

8

. STOCK REPURCHASE PROGRAMS

In

July

2013,

the Board of Directors approved a stock repurchase program (the

“2013

Program”) that authorized the Company to repurchase up to

$100

million in the aggregate of its common stock through

June

30,

2015.

In

April

2015,

the Board of Directors approved an extension of the

2013

Program through

December

31,

2015.

The

2013

Program expired as of

December

31,

2015

with a remaining unused balance of

$5.9

million. Shares were retired upon repurchase under the

2013

Program.

In

February

2016,

the Board of Directors approved a stock repurchase program (the

“2016

Program”) that authorized the Company to repurchase up to

$50

million in the aggregate of its common stock through

December

31,

2016.

In

December

2016,

the Board of Directors approved an extension of the

2016

Program through

December

31,

2017.

The following table summarizes the repurchase activity under the programs (in thousands, except per-share amounts): 

	Year Ended December 31,
	2016		2015		2014
Shares repurchased		-		645		1,051
Average price per share	$	-	$	50.05	$	39.19
Total amount	$	-	$	32,286	$	41,198

As of

December

31,

2016,

$50

million remained available for future repurchases under the

2016

Program. Shares will be retired upon repurchase.