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Common Stock Repurchase Program
3 Months Ended
Jul. 31, 2011
Common Stock Repurchase Program
18.  Common Stock Repurchase Program

On June 16, 2011, our board of directors authorized the expenditure of up to $5.0 million for the repurchase of shares of our common stock. Under the common stock repurchase program, shares may be purchased from time to time in open market transactions, block trades, and through plans established under the Securities Exchange Act Rule 10b5-1. The amount of shares purchased and the timing of such purchases will be based on working capital requirements, market and general business conditions and other factors including alternative investment opportunities.

We purchased 119,075 shares of our common stock at a cost of $1.1 million for the three-month period ending July 31, 2011.

On August 25, 2011, our board of directors authorized the expenditure of an additional $2.0 million , for a total authorization of $7.0 million, for the repurchase of shares of our common stock. Since the initial authorization of this program on June 16, 2011, the company has purchased 399,982 shares of our common stock at a cost of $3.5 million as of September 8, 2011.