Purchase of Treasury Stock
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12 Months Ended |
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Mar. 31, 2013
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Purchase of Treasury Stock [Abstract] | |
Purchase of Treasury Stock |
Note 14 — Purchase of Treasury Stock: In fiscal 2013, the Company’s Board of Directors extended the Company’s stock repurchase program. Under the stock repurchase program, up to 1,000 shares of the Company’s common stock are permitted to be repurchased by the Company from time to time either in the open market or through privately negotiated transactions. The stock repurchase program terminates at the earlier of: (a) the expiration of the program on July 29, 2013; (b) when all 1,000 shares authorized thereunder are repurchased; or (c) when the Board of Directors otherwise determines to terminate the program. Cash on hand has been used to fund all stock repurchases under the program. The Company did not purchase any stock under the program during fiscal 2013. At March 31, 2013 and 2012, the Company had purchased a total of 377 shares at a cost of $3,613 under this program.
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- Definition
The entire disclosure for an entity's treasury stock, including the average cost per share, carrying basis for each class of treasury stock, description of share repurchase program authorized by an entity's board of directors, the number of shares repurchased, the cost of the shares repurchased, the remaining maximum dollar value of shares available for repurchase under the program, the treatment of the purchase price in excess of the current market value, number of shares held for each class of treasury stock, and other information necessary to a fair presentation. No definition available.
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