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Common Stock Repurchase Program
6 Months Ended
Jul. 02, 2016
Equity [Abstract]  
Common Stock Repurchase Program
Common Stock Repurchase Program
 
On June 7, 2016, the Board of Directors of the Company (the “Board”) authorized an amendment to the Company’s previously-announced stock repurchase program to extend the program through June 30, 2017. The program was initially authorized in February 2014 and was extended in June 2015. The program authorizes the Company to repurchase up to $2 million of Company common stock. Under the program, repurchases may be made by the Company from time to time in the open market or through privately negotiated transactions depending on market conditions, share price and other factors. The stock repurchase program may be modified or discontinued at any time by the Board of Directors. The Company expects to fund future repurchases, if any, through cash on hand, future cash flow from operations and future borrowings. The Company did not repurchase any shares under the stock repurchase program during the twenty-six weeks ended July 2, 2016 or July 4, 2015. Through July 2, 2016, approximately $1,838,000 remained outstanding under the share repurchase program for future repurchases of Company common stock.