8x8 2012 Annual Report Download - page 65

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STOCK REPURCHASES
On October 19, 2010, the Company's board of directors authorized the Company to create a new stock repurchase plan to
purchase an additional $10.0 million of its common stock from time to time until October 19, 2011. The stock repurchase plan
expired on October 19, 2011. The stock repurchase activity since March 31, 2009 is summarized as follows:
Weighted
Average
Shares Price Amount
Repurchased Per Share Repurchased
Balance at March 31, 2009 - $ $ -
Repurchase of common stock 282,376 0.75 211,741
Balance at March 31, 2010 282,376 $ 0.75 $ 211,741
Repurchase of common stock 3,588,609 2.30 7,810,949
Balance at March 31, 2011 3,870,985 $ 2.26 $ 8,022,690
Repurchase of common stock 301,800 2.95 888,964
Balance at March 31, 2012 4,172,785 $ 2.33 $ 8,911,654
The total purchase prices of the common stock repurchased and retired were reflected as a reduction to stockholders’ equity
during the period of repurchase.
In fiscal 2012, the Company also repurchased in two transactions at the current market prices 352,030 shares with a total
repurchase price of $1.5 million from former and current members of the board of directors outside of the stock repurchase
plan.
6. EMPLOYEE BENEFIT PLAN
401(k) Savings Plan
In April 1991, the Company adopted a 401(k) savings plan (the “Savings Plan”) covering substantially all of its U.S.
employees. Eligible employees may contribute to the Savings Plan from their compensation up to the maximum allowed by the
Internal Revenue Service. On January 1, 2007, the Company reactivated the employer matching contribution. The matching
contribution is 100% of each employee’ s contributions in each year, not to exceed $1,500 per annum. The matching expense
in 2012, 2011 and 2010 was $0.3 million, $0.2 million and $0.2 million, respectively. The Savings Plan does not allow
employee contributions to be invested in the Company’ s common stock.
7. SEGMENT REPORTING
ASC 280 “Segment Reporting” establishes annual and interim reporting standards for an enterprise’ s business segments and
related disclosures about its products, services, geographic areas and major customers. Under ASC 280, the method for
determining what information to report is based upon the way management organizes the operating segments within the
Company for making operating decisions and assessing financial performance. The Company has one reportable segment.
The following table presents net revenues by groupings of similar products (in thousands):
2012 2011 2010
8x8 service, equipment and other $ 85,800 $ 70,056 $ 63,315
Technology licensing and related software 3 107 81
Total revenues $ 85,803 $ 70,163 $ 63,396
Years Ended March 31,
Revenue from customers outside the United States was not material for the fiscal years ended March 31, 2012, 2011 and 2010.
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