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Note 3 - Capital Stock
 12 Months Ended
Dec. 31, 2011
Equity  
Stockholders' Equity Note Disclosure [Text Block]

 

NOTE 3 - CAPITAL STOCK

 

In March 2008, the Company’s Board of Directors authorized an amendment to the 2007-authorized share repurchase program which allows the Company to repurchase up to 3,000,000 shares of its common stock. During fiscal 2011, the Company repurchased approximately 1,360,000 shares of common stock at an aggregate cost of $55,308,000 to complete the 2007-authorized repurchase program, as amended. During fiscal 2010 and 2009, the Company did not repurchase any shares of common stock.

 

In December 2011, the Company’s Board of Directors authorized a new share repurchase program which allows the Company to repurchase up to 1,500,000 shares of its common stock. Under its share repurchase program, the Company can purchase common stock in open market transaction, block or privately negotiated transactions, and may from time to time purchase shares pursuant to a trading plan in accordance with Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended, or by any combination of such methods. The number of shares to be purchased and the timing of the purchases are based on a variety of factors, including, but not limited to, the level of cash balances, general business conditions, regulatory requirements and the availability of alternative investment opportunities. No time limit was set for completion of repurchases under the new authorization and the program may be suspended or discontinued at any time.