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Note 12 - Repurchase of Common Stock
3 Months Ended
Apr. 02, 2017
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
NOTE
12
– REPURCHASE OF COMMON STOCK
 
In the
fourth
quarter of
2014,
the Company announced a program to repurchase up to
500,000
shares of common stock per fiscal year, commencing with the
2014
fiscal year. In the
second
quarter of
2016,
the Company amended the share purchase program to authorize the repurchase of up to
$50
million of common stock, with no specific expiration date. During the
first
three
months of
2017,
the Company repurchased and retired
1,601,896
shares of common stock at a weighted average purchase price of
$19.36
per share. These repurchases completed the
$50
million repurchase plan.
 
 
On
April
26,
2017,
subsequent to the end of the
first
quarter, the Company adopted a new share repurchase program in which the Company is authorized to repurchase up to
$100
million of its outstanding shares of common stock. The new program is subject to obtaining an amendment of the Company’s Syndicated Credit Facility to permit the repurchase of the fully authorized amount, and the program has no specific expiration date.