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Shareholders' Equity

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Shareholders' Equity

7. Shareholders’ Equity

Stock Repurchase Program

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 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 $10,000 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		Total Number of Shares Purchased				Average Price Paid per Share				Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs				Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in $ millions)
July 2017			11,794			$	9.69				11,794			$	7.6
August 2017			37,247				7.77				37,247				7.3
September 2017			90,529				7.62				90,529				6.6
Total			139,570				7.84				139,570

Cash Dividends

On August 7, 2017, the Company declared a cash dividend of $0.07 per share of ClearOne common stock paid September 7, 2017 to shareholders of record as of August 22, 2017.

Changes in Shareholders’ Equity

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

		Three months ended September 30,								Nine months ended September 30,
		2017				2016				2017				2016
Balance at the beginning of the period		$	72,444			$	79,783			$	77,449			$	82,569
Exercise of stock options, restricted stock and stock option cancelled			(113	)			238				(226	)			671
Stock repurchased			(1,094	)			(1,024	)			(4,151	)			(5,139	)
Options repurchased			—				—				—				(1,752	)
Proceeds from stock purchase plan			15				21				55				65
Dividends			(599	)			(449	)			(1,650	)			(1,373	)
Share-based compensation			174				175				514				494
Tax benefit - stock option exercise			—				33				—				690
Unrealized gain or loss on investments, net of tax			10				(38	)			68				179
Foreign currency translation adjustment			23				7				88				19
Net income/(loss) during the period			(9,276	)			1,209				(10,564	)			3,532
Balance at end of the period		$	61,584			$	79,955			$	61,584			$	79,955