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Stock Repurchase Program
3 Months Ended
Sep. 28, 2013
Stock Repurchase Program [Abstract]  
STOCK REPURCHASE PROGRAM
8.  STOCK REPURCHASE PROGRAM
 
 
On April 26, 2012, the Board authorized a share repurchase program for $25 million of common stock. The Company may repurchase the shares from time to time in open market or private transactions, at the discretion of the Company’s management.
During the three month period ended September 28, 2013, the Company repurchased 106,645 shares for an aggregate cost of approximately $765,000. During the three month period ended September 29, 2012, the Company repurchased 87,630 shares for an aggregate cost of approximately $708,000. Current cash balances and the proceeds from stock option exercises and purchases in the stock purchase plan have funded stock repurchases in the past, and the Company expects to fund future stock repurchases from these same sources. As of September 28, 2013, the Company had approximately $17.2 million of repurchase authority remaining under the 2012 authority.