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Stock Repurchase Program
9 Months Ended
Sep. 29, 2012
Stock Repurchase Program

8. Stock Repurchase Program

In August 2011, the Company’s board of directors authorized the repurchase of up to 3.0 million shares of the Company’s common stock under a repurchase program, which was terminated pursuant to its terms in April 2012. The stock repurchase program was carried out at the discretion of a committee comprised of the Company’s Chief Executive Officer and Chief Financial Officer through open market purchases, Rule 10b5-1 trading plans, block trades and in privately negotiated transactions. During the year ended December 31, 2011, 1.8 million shares were repurchased, at an average price of $19.61 per share, totaling $36.2 million. During the nine months ended September 29, 2012, 1.2 million shares were repurchased, at an average price of $22.74 per share, totaling $26.3 million. No shares were repurchased during the three months ended September 29, 2012.