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Note 11 - Treasury Stock Transactions | 3 Months Ended
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Apr. 02, 2022
Notes to Financial Statements |
Treasury Stock [Text Block] | 11. Treasury Stock Transactions On January 13, 2021, the Company’s Board of Directors authorized a program to repurchase shares of the Company’s common stock constituting, in the aggregate, up to an amount not to exceed $7.5 million. All of these repurchases are conducted under the safe harbor from liability under certain market manipulation rules provided by Rule 10b-18 under the Securities Exchange act of 1934, as amended. On November 12, 2021, the Company’s Board of Directors further increased the total amount available to repurchase shares up to an amount not to exceed $19.1 million (including the initial $7.5 million authorized), consistent with the maximum limitation set forth by the Company’s revolving line of credit. The program is designed to provide the Company with enhanced flexibility over the long term to optimize its capital structure. Shares of the common stock may be repurchased in the open market or through negotiated transactions. The program may be terminated or suspended at any time at the discretion of the Company. During the thirteen week period ended April 2, 2022, the Company purchased 406,480 shares at an average price of $6.84 per share. During the thirteen week period ended April 3, 2021, the Company purchased 344,172 shares at an average price of $2.65 per share. As of April 2, 2022, the Company has $7.3 million available for future treasury stock purchases.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2208821 + Details
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