Note 12 - Treasury Stock Transactions

9 Months Ended

Sep. 27, 2014

Disclosure Text Block Supplement [Abstract]

Treasury Stock [Text Block]

12. Treasury Stock Transactions

Our Board of Directors instituted a share repurchase program in February 2010, which authorized the repurchase of up to $7.5 million of the Company’s outstanding shares of our common stock at prevailing market prices, from time to time over the subsequent 12 months.  In February 2011, the share repurchase program was extended through February 2013. During the fiscal year ended December 28, 2013, the Company repurchased 15,450 shares for an average price of $5.35 per share. Over the life of this share repurchase program, the Company purchased 1,473,306 shares at a total cost of approximately $7.5 million, or an average price of $5.09.

On October 28, 2013, the Board of Directors authorized an additional repurchase program to purchase up to $5.0 million of outstanding shares of common stock at the prevailing market prices, from time to time over the subsequent 12-month period. As of September 27, 2014, the Company had not purchased any shares under this additional repurchase program.

On September 30, 2014, the Board extended this repurchase program through October 31, 2015.