SHARE REPURCHASE PROGRAM

3 Months Ended

Jun. 30, 2013

SHARE REPURCHASE PROGRAM

SHARE REPURCHASE PROGRAM

13. SHARE REPURCHASE PROGRAM

        In January 2013, our Board of Directors authorized the repurchase of up to 7,500,000 shares of our common stock. The authorization permits the Company to purchase shares from time to time through a variety of methods, including in the open market or through privately negotiated transactions, in accordance with applicable securities laws. It does not obligate the Company to make any purchases at any specific time or situation. Repurchases are subject to the availability of stock, prevailing market conditions, the trading price of the stock, the Company's financial performance and other conditions. The program may be suspended or discontinued at any time for any reason. Through June 30, 2013, the Company has not repurchased any shares of our common stock as part of the program.