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COMMON STOCK AND TREASURY STOCK | 12 Months Ended
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Jun. 30, 2014
Common Stock And Treasury Stock [Abstract] |
COMMON STOCK AND TREASURY STOCK | COMMON STOCK AND TREASURY STOCK As of June 30, 2014 and 2013, the authorized capital of the Company included 500,000,000 shares of common stock. As of June 30, 2014, 132,418,408 shares of common stock were issued and 88,179,448 were outstanding. As of June 30, 2013, 131,452,763 shares of common stock were issued and 87,213,803 were outstanding. Common Stock Repurchases On August 9, 2012, the Board of Directors authorized the Company to repurchase up to $100 million of its common stock. The share repurchase program commenced on August 13, 2012 and expired on August 12, 2013. The share repurchase program was been funded from proceeds from the Loan Agreement as discussed in Note 7 and from existing cash on hand. The Company repurchased 5,159,050 shares at an average share price of $10.52 per share under this plan. All repurchased shares are recorded as treasury stock at cost. On May 29, 2014, the Board of Directors authorized the Company to repurchase up to an additional $75 million of its common stock. The share repurchase program commenced on June 2, 2014 and will expire on May 10, 2015. The share repurchase program was been funded from proceeds from the Credit Agreement as discussed in Note 8 and from existing cash on hand. As of June 30, 2014 the Company has not repurchased any of its common stock under this plan. Special Dividend On December 14, 2012, the Board of Directors authorized a special cash dividend of $0.18 per share for each share of common stock outstanding on December 24, 2012. The aggregate dividend payment of $15.7 million was paid on December 28, 2012 to stockholders of record on December 24, 2012. The dividend payment was funded using proceeds from the Loan Agreement as discussed in Note 8. Common Stock Offering On June 18, 2013, the Company completed a secondary offering of 7,031,464 shares of common stock at an offering price of $16.00 per share, which included 531,464 shares sold in connection with the partial exercise of the option to purchase additional shares granted to the underwriters. All of the shares sold in the offering were sold by existing stockholders of the Company, including entities affiliated with Summit Partners, L.P., and the Company's chief executive officer, Robert J. Pera. No shares were sold by the Company in the offering, and as such, the Company did not receive any proceeds from the offering.

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