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COMMON STOCK REPURCHASE AND ISSUANCE
 12 Months Ended
Dec. 31, 2017
COMMON STOCK REPURCHASE AND ISSUANCE  
COMMON STOCK REPURCHASE AND ISSUANCE

 

NOTE 8-COMMON STOCK REPURCHASE AND ISSUANCE

 

On November 12, 2014, the Company’s Board of Directors approved a share repurchase program of up to $40.0 million of its ordinary shares outstanding over the 24 months through 2016. On November 4, 2016, the Company’s Board of Directors approved an extension for this program to November 2018. For the years ended December 31, 2017, 2016 and 2015, the Company repurchased 72,739, 2,054,655 and 1,563,302 shares at the cost of $0.1 million, $4.1 million and $3.7 million, respectively. All of the repurchased shares under the repurchase program are classified as treasury shares of the Company until they are retired or reissued.