Shareholders' Equity

3 Months Ended

Mar. 31, 2012

Shareholders' Equity. On February 22, 2011, the Board of Directors authorized the repurchase of up to $15,000,000 of the Company's common stock on or before January 31, 2012. On May 25, 2011, the Board amended the plan to increase the maximum share purchase amount from $15,000,000 to $20,000,000. The plan did not obligate the Company to repurchase any particular number of shares, and could have been suspended at any time at the Company's discretion. The Board of Directors did not extend this plan after its expiration on January 31, 2012. For the three months ended March 31, 2012 and 2011, the Company repurchased approximately 104,000 and 1,584,000 shares, respectively, at a total cost of $213,000 and $10,672,000, respectively.