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Share Repurchase Program
3 Months Ended
Mar. 31, 2013
Share Repurchase Program [Abstract]  
SHARE REPURCHASE PROGRAM
SHARE REPURCHASE PROGRAM
On July 26, 2012, the Company announced that its Board of Directors authorized the repurchase of $30.0 million of the Company’s common stock. The total available for repurchase, as of March 31, 2013, was $19.1 million.
Shares of common stock purchased pursuant to the repurchase program are cancelled from outstanding shares upon repurchase and credited to an authorized and un-issued reserve account. Share repurchases are recorded as a reduction to common stock to the extent available. Any amounts repurchased which are in excess of the existing total common stock balance are recorded as a reduction of retained earnings. Share repurchases are intended to reduce the number of outstanding shares of common stock to increase shareholder value and offset dilution from the Company’s stock option plans and ESPP. During the three months ended March 31, 2013, the Company did not repurchase any shares of its common stock.