Shareholders’ Equity

3 Months Ended

Mar. 29, 2025

Equity [Abstract]

Shareholders’ Equity

Shareholders’ Equity

Share Buyback Program

The Company’s Board of Directors from time to time authorizes the repurchase of common stock, which allows the Company to purchase shares of its common stock in accordance with applicable securities laws on the open market or through privately negotiated transactions. The Company has the capacity under the currently authorized program to repurchase additional shares of its common stock with a maximum dollar value of $41.5 million.

At-the-Market Equity Offering

On August 8, 2023, the Company initiated an at-the-market equity offering program (the “ATM Program”) for the sale from time to time of shares of the Company’s common stock, par value $0.01 per share, having an aggregate offering price of up to $30.0 million. During the three months ended March 29, 2025 and March 30, 2024, the Company did not sell any shares of our common stock under the ATM Program. As of March 29, 2025, the Company had remaining capacity under the ATM Program to sell shares of common stock having an aggregate offering price up to approximately $8.2 million.

Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss are as follows:

(In thousands)	March 29, 2025		December 31, 2024
Foreign Currency Translation Adjustments	$	(7,470)	$	(8,222)
Retirement Liability Adjustment – Before Tax	1,841		2,077
Tax Benefit of Retirement Liability Adjustment	2,282		2,282
Retirement Liability Adjustment – After Tax	4,123		4,359
Accumulated Other Comprehensive Loss	$	(3,347)	$	(3,863)

The components of other comprehensive income (loss) are as follows:

	Three Months Ended
(In thousands)	March 29, 2025		March 30, 2024
Foreign Currency Translation Adjustments	$	752	$	(756)
Retirement Liability Adjustments:
Reclassifications to Selling, General and Administrative Expenses:
Amortization of Prior Service Cost	96		97
Amortization of Net Actuarial (Gains) Losses	(332)		184
Retirement Liability Adjustment	(236)		281
Other Comprehensive Income (Loss)	$	516	$	(475)