Item 8.01. Other Events.

On May 11, 2009, the Board of Directors authorized the Company to repurchase up to $15.0 million of the Company's common stock. This repurchase authorization supersedes a similar repurchase authorization of up to $10.0 million announced November 10, 2008. After taking into account all shares the Company has repurchased through May 11, 2009, the Company has $15.0 million in aggregate remaining repurchase capacity under the Company's outstanding repurchase authorization. The timing and actual number of shares repurchased will depend on a variety of factors, including the stock price, corporate and regulatory requirements and other market and economic conditions. The Company's stock repurchase program may be suspended or discontinued at any time.

On May 11, 2009, the Board of Directors authorized the Company to repurchase up to an additional $5.0 million of the Company's convertible senior subordinated notes payable (the "Convertible Notes"). After taking into account all convertible notes the Company has repurchased through May 11, 2009, the Company has $10.0 million in aggregate remaining repurchase capacity under all of the Company's outstanding repurchase authorizations. The timing and actual number of convertible notes repurchased will depend on a variety of factors, including the price of the Convertible Notes, corporate and regulatory requirements and other market and economic conditions. The Company's Convertible Notes repurchase program may be suspended or discontinued at any time.

Effective May 11, 2009, Kelly M. Malson was promoted to Senior Vice President and Chief Financial Officer. Ms. Malson, age 38, has served as Vice President and Chief Financial Officer since March 2006 and Vice President of Internal Audit from September 2005 to March 2006. Prior to joining the Company, she served as Financial Compliance Manager of Itron Inc. from July 2004 to August 2005 and Senior Manager of KPMG LLP from April 2002 to July 2004. In connection with Ms. Malson's promotion her annual base salary was increased from $175,000 to $185,500. There were no additional changes to her employment contract dated August 27, 2007.

Effective May 11, 2009, Judson K. Chapin, III has been appointed as the Company's Senior Vice President, Secretary and General Counsel. Mr. Chapin, age 63, has served as Vice President, Secretary and General Counsel of the Company since March 1, 1999.

Effective May 11, 2009, Marilyn M. Messer has been appointed as the Company's Senior Vice President Human Resources. Mrs. Messer, age 58, has served as Vice President - Human Resources of the Company since November 2004. Prior to joining the Company, she served as Corporate Director of Human Resources for Roper Industries, Inc from July 1997 through October 2004; as Director of Human Resources for North American for McKechnie from April, 1995 to May 1997.