Share Repurchase Plan

12 Months Ended

Sep. 28, 2013

Share Repurchase Plan

Share Repurchase Plan

L.  Share Repurchase Plan

On November 20, 2012, the Company announced the approval by its Board of Directors for the repurchase of up to $10 million of the Company’s outstanding common stock from time to time on the open market or in privately negotiated transactions, including pursuant to a Rule 10b5-1 nondiscretionary trading plan.  This stock repurchase authorization is effective for a period of twelve months. Through September 28, 2013, the Company repurchased 123,261 shares of common stock for approximately $1.6 million.

In April 2012, the Company’s Board of Directors approved a similar program for the repurchase of up to $10 million of the Company’s outstanding common stock. In fiscal 2012, the Company repurchased 823,970 shares of common stock for approximately $10 million.