Common Stock and Warrants

12 Months Ended

Jun. 30, 2012

Common Stock and Warrants [Abstract]

Common Stock and Warrants

(6) Common Stock and Warrants

Common Stock

On November 1, 2011, our Board of Directors approved a share repurchase program for up to $100 million worth of our common stock. This replaced the prior share repurchase program approved by the Board of Directors on October 29, 2010 for up to $40 million, which had approximately $17.0 million of remaining capacity at October 31, 2011.  The timing and amount of any shares repurchased are based on market conditions and other factors.  All share repurchases of our common stock have been recorded as treasury stock under the cost method.  We repurchased 2,496,595 and 701,030 shares of our common stock for $46.1 million and $10.5 million during fiscal 2012 and 2011, respectively. As of June 30, 2012, the remaining dollar value under the stock repurchase program approved by our Board of Directors on November 1, 2011 was $66.4 million.

Warrants

In connection with the August 2003 Series D Preferred financing, we issued warrants with seven-year lives to purchase 7,267,286 shares of common stock at an exercise price of $3.33 per share. Prior to fiscal 2011, 6,636,646 warrants were exercised in a cashless exercise resulting in the issuance of 4,869,539 shares of common stock. During fiscal 2011, the remaining 630,640 warrants were exercised in a cashless exercise resulting in the issuance of 424,753 shares of common stock. There were no warrants outstanding at June 30, 2012 and 2011.