Subsequent Events

6 Months Ended

Jul. 03, 2011

Subsequent Events

Subsequent Events

13. Subsequent Events

Stock Repurchase Program

On August 2, 2011, the Company announced that its Board of Directors had authorized a stock repurchase program. Under the program, the Company may repurchase up to an aggregate of 1.0 million shares of its Class A Common Stock in open market purchases or in privately negotiated transactions.

Dividend Declared

On August 2, 2011, the Company declared a quarterly dividend of eleven cents ($0.11) per share on each outstanding share of Class A Common Stock and Class B Common Stock payable on September 2, 2011 to stockholders of record at the close of business on August 22, 2011.

New Director

On August 1, 2011, the Company announced that its Board of Directors elected Bernard Baert to serve as a member of the Company’s Board of Directors until the Company’s 2012 Annual Meeting of Stockholders or until his successor has been duly elected and qualified.  Mr. Baert was also appointed by the Board to serve as a member of each of the Audit Committee and the Nominating and Corporate Governance Committee of the Board of Directors.