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Note 8 - Shareholders' Equity | 12 Months Ended
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Jun. 30, 2017
Notes to Financial Statements |
Stockholders' Equity Note Disclosure [Text Block] | ( 8 ) Shareholders' Equity Our authorized capital stock consists of 150,000,000 shares of Common Stock, par value $.01 per share, and 1,055,000 shares of Preferred Stock, par value $.01 per share. The Board of Directors may provide for the issuance of all or any shares of Preferred Stock in one or more classes or series, and to fix for each such class or series such voting powers, full or limited, or no voting powers, and such distinctive designations, preferences and relative, participating, optional or other special rights and such qualifications, limitations or restrictions thereof, as shall be stated and expressed in the resolution or resolutions adopted by the Board of Directors providing for the issuance of such class or series and as may be permitted by the General Corporation Law of the State of Delaware. As of June 30, 2017 and 2016, there were no shares of Preferred Stock issued or outstanding. Share Repurchase Program On November 21, 2002, our Board of Directors approved a share repurchase program authorizing us to repurchase up to 2,000,000 shares of our common stock, from time to time, either directly or through agents, in the open market at prices and on terms satisfactory to us. After that date, the Board of Directors increased the aggregate authorization under the repurchase program on several separate occasions, the last of which was on April 13, 2015 when the Board of Directors increased the aggregate authorization to approximately 3,000,000 shares. There is no expiration date on the repurchase authorization and the amount and timing of future share repurchases, if any, will be determined as market and business conditions warrant. As of June 30, 2017 we had a remaining Board authorization to repurchase 1.4 million shares. During the past three fiscal years, we repurchased the following shares of our common stock (trade date basis):
|  | 2017 |  |  | 2016 |  |  | 2015 |
Common shares repurchased |  |  | 357,363 |  |  |  | 697,799 |  |  |  | 645,831 |
Cost to repurchase common shares |  | $ | 10,246,302 |  |  | $ | 19,346,104 |  |  | $ | 16,469,725 |
Average price per share |  | $ | 28.67 |  |  | $ | 27.72 |  |  | $ | 25.50 |
For the fiscal years presented above, we funded our purchases of treasury stock with existing cash on hand and cash generated through current period operations. All our common stock repurchases are recorded as treasury stock and result in a reduction of shareholders’ equity.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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