Stock Repurchase Program

3 Months Ended

Mar. 29, 2016

Stock Repurchase Program

Stock Repurchase Program

(12)  Stock Repurchase Program

On May 22, 2014, our Board of Directors approved a stock repurchase program under which we may repurchase up to $100.0 million of our common stock.  This stock repurchase program has no expiration date and replaced a previous stock repurchase program which was approved on February 16, 2012. All repurchases to date under our stock repurchase program have been made through open market transactions.  The timing and the amount of any repurchases will be determined by management under parameters established by our Board of Directors, based on an evaluation of our stock price, market conditions and other corporate considerations.

For the 13 week period ended March 29, 2016 we paid approximately $4.1 million to repurchase 114,700 shares of our common stock. As of March 29, 2016, we had approximately $69.9 million remaining under our authorized stock repurchase program.  We did not repurchase any shares of common stock during the 13 week period ended March 31, 2015.