Share Repurchase Program

On May 24, 2012, the Company’s Board of Directors authorized a new share repurchase program ( the “May 2012 Program”) allowing the Company to repurchase up to $50 million of its common stock. The share repurchase program allows the Company to purchase its common stock on the open market or in privately negotiated transactions in accordance with applicable laws and regulations, and expires on May 23, 2013. The previous share repurchase program expired on May 19, 2012.

The following table shows the number and cost of shares repurchased during the nine months ended December 31, 2012 and 2011, respectively ($ in thousands):



	Nine Months Ended
	December 31, 2012		December 31, 2011
May 2012 Program
Number of shares repurchased	3,558,600		—
Cost of shares repurchased	$	30,041	$	—
May 2011 Program
Number of shares repurchased	—		2,714,289
Cost of shares repurchased	$	—	$	35,000

As of December 31, 2012, the Company had $20.0 million remaining under the May 2012 Program. The repurchased shares are classified as treasury stock within stockholders’ equity in the accompanying condensed consolidated balance sheets.