Annual report pursuant to Section 13 and 15(d)

Note 8 - Shareholders' Equity

Note 8 - Shareholders' Equity
12 Months Ended
Jun. 30, 2015
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
(8)     Shareholders' Equity
Our authorized capital stock consists of (a) 150,000,000 shares of Class A Common Stock, par value $.01 per share, (b) 600,000 shares of Class B Common Stock, par value $.01 per share, and (c) 1,055,000 shares of Preferred Stock, par value $.01 per share, of which (i) 30,000 shares have been designated Series A Redeemable Convertible Preferred Stock, (ii) 30,000 shares have been designated Series B Redeemable Convertible Preferred Stock, (iii) 155,010 shares have been designated as Series C Junior Participating Preferred Stock, and (iv) the remaining 839,990 shares may be designated by the Board of Directors with such rights and preferences as they determine (all such preferred stock, collectively, the "Preferred Stock"). Shares of Class B Common Stock are convertible to shares of our Common Stock upon the occurrence of certain events or other specified conditions being met. As of June 30, 2015 and 2014, there were no shares of Preferred Stock or Class B Common Stock issued or outstanding.
Share Repurchase Program
On November 21, 2002, the Company’s Board of Directors approved a share repurchase program authorizing us to repurchase up to 2.0 million shares of our common stock, from time to time, either directly or through agents, in the open market at prices and on terms satisfactory to us. Subsequent to that date, the Board of Directors increased the then remaining share repurchase authorization on several occasions the last of which was on April 13, 2015. As of June 30, 2015 we had a remaining Board authorization to repurchase 2.5 million shares.
During the past three fiscal years, we repurchased and/or retired the following shares of our common stock (trade date basis):
Common shares repurchased
    645,831       -       -  
Cost to repurchase common shares   $ 16,469,725     $ -     $ -  
Average price per share
  $ 25.50     $ -     $ -  
For the fiscal years presented above, we funded our purchases of treasury stock with existing cash on hand and cash generated through current period operations. All of our common stock repurchases are recorded as treasury stock and result in a reduction of shareholders’ equity.