Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

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Stockholders' Equity
 3 Months Ended
Sep. 30, 2014
Equity [Abstract]  
Stockholders' Equity
Note 11 - Stockholders' Equity
Treasury Stock
On September 24, 2012, the Company announced that its Board had approved a stock repurchase program authorizing the Company to repurchase up to a total value of $2.0 million in shares of its Common Stock. During November 2012, the Company repurchased 149,539 shares pursuant to this program. The authorization expired on August 21, 2014, with no further repurchases of stock.
On July 1, 2014, upon the vesting of 150,000 shares of restricted stock previously granted to executives of the Company and pursuant to the cashless exercise provisions of the Company's restricted stock, the Company withheld on a cashless basis 47,920 shares to settle withholding taxes. Following their withholding, the shares were immediately canceled.
All repurchased shares of Common Stock are currently being held in treasury at cost, including direct issuance cost. The following table summarizes the Company's treasury stock activity as follows:
 
THREE MONTHS ENDED
 
FISCAL YEAR ENDED
 
September 30, 2014
 
June 30, 2014
 
Number of shares
 
Amount
 
Number of shares
 
Amount
 
(In thousands, except share amounts)
Fiscal year opening balance
9,425,114

 
$
9,344

 
9,414,176

 
$
9,333

Repurchases through the stock repurchase program
—

 
—

 
—

 
—

Net shares repurchased for employee tax and option exercise price obligations related to the vesting of restricted stock and the exercise of employee stock options
47,920

 
104

 
10,938

 
11

Cancellation of shares repurchased
(47,920
)
 
(104
)
 
—

 
—

Balance at end of period
9,425,114


$
9,344

 
9,425,114

 
$
9,344