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STOCK REPURCHASES - Note 12

9 Months Ended

Dec. 31, 2014

Notes to Financial Statements

STOCK REPURCHASES - Note 12

12. STOCK REPURCHASES

In July 2014, the Company's board of directors authorized the Company to purchase up to $15.0 million of its common stock from time to time until July 22, 2015 (the "Repurchase Plan"). Share repurchases, if any, will be funded with available cash. Repurchases under the Repurchase Plan may be made through open market purchases at prevailing market prices or in privately negotiated transactions. The timing, volume and nature of share repurchases are subject to market prices and conditions, applicable securities laws and other factors, and are at the discretion of the Company's management. Share repurchases under the Repurchase Plan may be commenced, suspended or discontinued at any time. The remaining authorized repurchase amount at December 31, 2014 was approximately $13.4 million. The activity under the Repurchase Plan for the three months ended December 31, 2014 is summarized as follows:

					Weighted
		Shares			Average Price			Amount
		Repurchased			Per Share			Repurchased
Repurchase of common stock		216,965		$	7.48		$	1,627,210
Balance at December 31, 2014		216,965		$	7.48		$	1,627,210

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The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock.

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