Note I - Treasury Stock

6 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Treasury Stock [Text Block]

I. Treasury Stock

On

June

 

2,

2011,

the Board of Directors authorized the repurchase of up to

$2.0

 million of our common stock. On

February

6,

2015,

the Board of Directors authorized a

$1.0

million increase to our stock repurchase plan bringing the total authorized repurchase amount to

$3.0

million. On

May

11,

2015,

the Board of Directors authorized a

$2.0

million increase to our stock repurchase plan bringing the total authorized repurchase amount to

$5.0

million. Under the repurchase plan, we

may,

from time to time, purchase shares of our common stock, depending upon market conditions. When we do so we

may

purchase the shares in open market or privately negotiated transactions.

During the

six

months ended

December

31,

2016,

we did not repur

chase any shares under this repurchase plan. During the

six

months ended

December,

2015,

we repurchased

35,703

shares under this plan at a weighted average cost of

$5.91

per share and a total cost of

$212,000

including commissions and fees.