Stockholder's Equity

12 Months Ended

Mar. 29, 2014

Stockholder's Equity [Abstract]

Stockholder's Equity

15.      Stockholders’ Equity

Share Repurchase Program

On November 20, 2012, we announced that our Board of Directors authorized a share repurchase program of up to $200 million of the Company’s common stock.  As of March 29, 2014, the Company had repurchased 5.6 million shares at a cost ofapproximately $137.7 million, or an average cost of $24.46 per share. Of this total, 2.6 million shares were purchased in the current fiscal year at a cost of $52.1 million, or an average cost of $19.78 per share. As of March 29, 2014, approximately $62.3 million remains available for repurchase under this plan.

In fiscal year 2013, the Company repurchased 3.0 million shares at a cost of $86.1 million, or an average cost of $28.59 per share. This amount included $0.5 million of stock repurchased pursuant to the remaining portion of the $80 million share repurchase program authorized by the Board of Directors in November 2010.

All of these shares were repurchased in the open market and were funded from existing cash.  All shares of our common stock that were repurchased were retired as of March 29, 2014.  

Preferred Stock

We have 5.0 million shares of Preferred Stock authorized.  As of March 29, 2014 we have not issued any of the authorized shares.