Open Market Share Repurchase Program

9 Months Ended

Sep. 09, 2012

Open Market Share Repurchase Program

5. Open Market Share Repurchase Program

During the third quarter and three fiscal quarters of 2012, the Company repurchased and retired 189,718 and 1,336,215 shares of common stock for a total of approximately $5.9 million and $42.7 million, respectively, under the Company’s open market share repurchase program. In July 2012, the Board of Directors approved an increase to the Company’s open market share repurchase program, which at the time of the approval, resulted in a total remaining authorized amount for additional share repurchases of $200.0 million. As of September 9, 2012, the Company had approximately $197.9 million remaining for future share repurchases under its open market share repurchase program. As of September 9, 2012, the Company had 56,846,578 shares of common stock outstanding. Subsequent to the third quarter of 2012, the Company repurchased and retired an additional 106,573 shares of common stock for a total cost of approximately $3.7 million.

During the third quarter of 2011, the Company repurchased and retired 3,163,060 shares of common stock for a total of approximately $81.9 million, and during the three fiscal quarters of 2011, the Company repurchased and retired 5,268,550 shares of common stock for $129.2 million.