Stock repurchase program	12 Months Ended
Dec. 31, 2016
Stock repurchase program
Stock repurchase program	16. Stock repurchase program In 2014 and 2015, the Board of Directors authorized a total repurchase of $13.5 million of the Company’s outstanding shares of common stock and repurchased a total amount of 3.6 million shares of common stock for an aggregate price of $7.9 million as of December 31, 2015. From January 1, 2016 to March 9, 2016, the Company repurchased an additional 1.3 million shares under the program for an aggregate price of $3.6 million, thus $2.0 million remained available for repurchase under the program. As of March 10, 2016, the stock repurchase program was suspended in connection with the tender offer (see disclosure below). On August 2, 2016, the Board of Directors reinstated the Company’s share repurchase program and expanded the authorization by an incremental $4.0 million, bringing its total authorization to $6.0 million. From August 2, 2016 to September 30, 2016, the Company repurchased approximately 1.6 million shares of common stock for an aggregate price of $6.0 million. On November 1, 2016, the Company announced that its Board of Directors authorized the repurchase of up to $10.0 million of the Company’s outstanding shares of common stock. From October 1, 2016 through the date of this filing, the Company did not repurchase any shares of common stock. Tender offer On March 10, 2016, the Board of Directors authorized the Company to commence a modified “Dutch auction” tender offer to repurchase up to $15.0 million of its outstanding shares of common stock at a tender price of not less than $3.20 per share or greater than $3.60 per share. The tender offer commenced on March 14, 2016 and expired on April 11, 2016. On April 12, 2016, the Company paid $14.2 million, including transaction costs, to repurchase approximately 3.9 million shares at a tender price of $3.60 per share. The repurchased shares of common stock became treasury shares of the Company.

16. Stock repurchase program

In 2014 and 2015, the Board of Directors authorized a total repurchase of $13.5 million of the Company’s outstanding shares of common stock and repurchased a total amount of 3.6 million shares of common stock for an aggregate price of $7.9 million as of December 31, 2015.

From January 1, 2016 to March 9, 2016, the Company repurchased an additional 1.3 million shares under the program for an aggregate price of $3.6 million, thus $2.0 million remained available for repurchase under the program. As of March 10, 2016, the stock repurchase program was suspended in connection with the tender offer (see disclosure below). On August 2, 2016, the Board of Directors reinstated the Company’s share repurchase program and expanded the authorization by an incremental $4.0 million, bringing its total authorization to $6.0 million. From August 2, 2016 to September 30, 2016, the Company repurchased approximately 1.6 million shares of common stock for an aggregate price of $6.0 million.

On November 1, 2016, the Company announced that its Board of Directors authorized the repurchase of up to $10.0 million of the Company’s outstanding shares of common stock. From October 1, 2016 through the date of this filing, the Company did not repurchase any shares of common stock.

Tender offer

On March 10, 2016, the Board of Directors authorized the Company to commence a modified “Dutch auction” tender offer to repurchase up to $15.0 million of its outstanding shares of common stock at a tender price of not less than $3.20 per share or greater than $3.60 per share. The tender offer commenced on March 14, 2016 and expired on April 11, 2016. On April 12, 2016, the Company paid $14.2 million, including transaction costs, to repurchase approximately 3.9 million shares at a tender price of $3.60 per share. The repurchased shares of common stock became treasury shares of the Company.