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Shareholders' Equity

6 Months Ended

Jun. 30, 2017

Equity [Abstract]

Shareholders' Equity

7. Shareholders’ Equity

Stock Repurchase Program

In May 2012, our Board of Directors authorized a stock repurchase program to purchase the Company’s common stock in the open market. A total of 272,767 shares costing $2,598 were purchased under this program during the year ended December 31, 2014. The cost of shares purchased were recorded as a reduction to shareholders’ equity. On December 2, 2015, the Company announced the discontinuance of the stock repurchase program along with the initiation of a cash dividend plan.

On March 9, 2016, the Board of Directors of the Company authorized the repurchase of up to $10,000 of the Company’s outstanding shares of common stock under a new stock repurchase program. In connection with the repurchase authorization, the Company was authorized to complete the repurchase through open market transactions or through an accelerated share repurchase program, in each case to be executed at management’s discretion based on business and market conditions, stock price, trading restrictions, acquisition activity and other factors. The repurchase program may be suspended or discontinued at any time without prior notice. The transactions effectuated to date occurred in open market purchases.

On March 1, 2017, the Board of Directors of the Company renewed and extended the repurchase program for up to an additional $10 million of common stock over the next twelve months. In connection with the repurchase extension authorization, the Company was authorized to complete the repurchase through open market transactions or through an accelerated share repurchase program, in each case to be executed at management’s discretion based on business and market conditions, stock price, trading restrictions, acquisition activity and other factors. The repurchase program may be suspended or discontinued at any time without prior notice. The transactions effectuated to date occurred in open market purchases.

Period		(a) Total Number of Shares Purchased				(b) Average Price Paid per Share				(c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs				(d) Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in $ millions)
April 2017			26,388			$	10.01				26,388			$	9.7
May 2017			156,652				9.93				156,652				8.0
June 2017			31,826				9.73				31,826				7.7
Total			214,866				9.91				214,866

Cash Dividends

On May 4, 2017, the Company declared a stock dividend of $0.07 per share of ClearOne common stock paid May 31, 2017 to shareholders of record as of May 17, 2017.

Changes in Shareholders’ Equity

The following table summarizes the change in shareholders’ equity during the three and six months ended June 30, 2017 and 2016, respectively:

Three months ended June 30,								Six months ended June 30,
		2017				2016				2017				2016
Balance at the beginning of the period		$	75,863			$	82,505			$	77,449			$	82,569
Exercise of stock options			35				140				44				433
Stock repurchased			(2,282	)			(3,711	)			(3,210	)			(4,115	)
Options repurchased			—				—				—				(1,752	)
Proceeds from stock purchase plan			19				18				38				43
Dividends			(612	)			(465	)			(1,051	)			(924	)
Share-based compensation			169				171				340				319
Tax benefit - stock option exercise			—				93				—				656
Unrealized gain or loss on investments, net of tax			20				97				58				218
Foreign currency translation adjustment			52				(20	)			64				13
Net income/(loss) during the period			(820	)			955				(1,288	)			2323
Balance at end of the period		$	72,444			$	79,783			$	72,444			$	79,783