Subsequent Event

9 Months Ended

Sep. 30, 2014

Subsequent Events [Abstract]

Subsequent Event

12. Subsequent Event

On October 29, 2014, the Company’s Board of Directors declared a quarterly cash dividend of $0.08 per share of common stock. The first dividend will be paid on November 26, 2014 to stockholders of record as of the close of business on November 12, 2014. The Board also authorized the purchase of up to $100 million of the Company’s common stock over three years, including purchases to offset future equity grants made under the Company’s equity plans. Purchases under this program will be made in open market or privately negotiated transactions. This authority may be exercised from time to time and in such amounts as market conditions warrant, and subject to regulatory considerations. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, market conditions, and other corporate liquidity requirements and priorities. The repurchase program may be suspended or terminated at any time without prior notice.