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NOTE 11- SHARE REPURCHASE PROGRAMS
6 Months Ended
Jun. 30, 2012
NOTE 11- SHARE REPURCHASE PROGRAMS

On October 20, 2011, we announced a stock repurchase program to buy back up to $1 million dollars of stock over four quarters.  Through December 31, 2011, Data I/O repurchased 62,916 shares of stock at an average price of $3.97 for a total repurchase amount of $249,986 plus $2,551 in commissions.  For the quarter ended March 31, 2012 an additional 10,581 shares were repurchased under this plan at an average price of $3.90 for a total repurchase amount of $41,274 plus $432 in commissions.  Since this program began, we have repurchased 73,497 shares of stock at an average price of $3.96 for a total of $291,260 plus $2,983 in commissions.  On January 13, 2012, this stock repurchase program was terminated.

 

On January 9, 2012, our board of directors approved a new and expanded 2012 share repurchase program with provisions to buy back up to $6 million dollars of stock.  The program included establishing a Rule 10b5-1 plan under the Exchange Act to provide flexibility to make purchases at any time.  The 10b5-1 trading plan allows us to repurchase our common stock in the open market during periods in which stock trading is otherwise closed for us.  For the quarter ended March 31, 2012, 1,472,208 shares of stock have been repurchased at an average price of $4.03 for a total of $5,927,937 plus $56,938 in commissions, completing the program. 

 

There has been no further share repurchase program activity during the quarter ended June 30, 2012.

 

The following is a summary of share repurchase activity under both plans through June 30, 2012:

      Total Number of Shares Purchased   Average Price Paid per Share   Total Number of Shares Purchased as Part of Publicly Announced Repurchase Program   Approximate Dollar Value of Shares that May Yet Be Purchased under the Program  
                     
$1 million progam dated October 20, 2011:                  
  November 2011   32,068   $3.88   32,068   $874,328  
  December 2011   30,848   $4.07   30,848   $747,463  
  January 2012   10,581   $3.90   10,581   $0 (1)
                     
$6 million program dated January 9, 2012:                  
  January 2012   171,832   $4.18   171,832   $5,274,294  
  February 2012   243,862   $4.25   243,862   $4,228,920  
  March 2012   1,056,514   $3.95   1,056,514   $0 (2)
  Total   1,545,705   $4.02   1,545,705      
                     
(1) Program terminated January 13, 2012                  
(2) Program terminated March 26, 2012