Stockholders' Equity

9 Months Ended

Oct. 02, 2011

Stockholders' Equity [Abstract]

Stockholders' Equity

10. Stockholders' Equity:

Cash Dividends

On February 22, 2011, our Board of Directors the ("Board") approved the initiation of a quarterly cash dividend of $0.20 per share, or $0.80 per share annually. Due to the timing of the Board's decision, dividends paid during our 2011 fiscal year are expected to be $0.60 per share. On November 1, 2011, our Board declared a cash dividend of $0.22 per share, which will be paid on January 5, 2012 to stockholders of record on December 1, 2011. The table below presents dividends declared for the nine months ended October 2, 2011:

Declaration Date		Record Date		Dividend Payable Date		Dividend Payable per  Share		Total Amount of Dividends Declared
	February 22, 2011		March 24, 2011		April 21, 2011	$	0.20	$	4.0 million
	May 3, 2011		June 2, 2011		July 7, 2011	$	0.20	$	3.9 million
	August 2, 2011		September 8, 2011		October 6, 2011	$	0.20	$	3.8 million
						$	0.60	$	11.7 million

Stock Repurchase Program

On July 25, 2005, our Board approved a stock repurchase program, which authorized us to repurchase up to $400 million of our common stock, and on each of October 22, 2007 and October 27, 2009 our Board authorized $200 million increases each.

The following table summarizes shares of our common stock repurchased by us in the open market:

Date Purchased	Number of Shares Purchased		Approximate Cost		Average Price Paid Per Share
	(in millions, except number of shares and per share amounts)
First Quarter 2011		604,224	$	22.5	$	37.18
Second Quarter 2011		445,000		17.5	$	39.45
Third Quarter 2011		512,283		15.4	$	30.11
Total 2011		1,561,507	$	55.4	$	35.51
First Quarter 2010		453,859	$	16.9	$	37.27
Second Quarter 2010		468,130		18.7	$	39.82
Third Quarter 2010		995,496		31.8	$	32.03
Total 2010		1,917,485	$	67.4	$	35.17

As of October 2, 2011, approximately $85.7 million remained available for us to repurchase shares of our common stock, in the future, under our approved share repurchase program. Our share repurchase program does not have an expiration date and the pace of our repurchase activity depends on factors such as our working capital needs, debt repayment obligations, and market price of our common stock, as well as economic and market conditions. Our share repurchases may be effected from time to time through open market purchases, accelerated share repurchases, or in privately negotiated transactions. Although there are no current plans to modify the implementation of our share repurchase program, our Board may elect to accelerate, suspend, delay, or discontinue the program at any time.

Stock Options

All of our stock options outstanding are fully vested. During the nine months ended October 2, 2011, 17,588 shares of our common stock were issued from the exercise of stock options for cash proceeds of approximately $0.6 million. During the nine months ended October 3, 2010, 147,957 shares of our common stock were issued from the exercise of stock options for cash proceeds of approximately $4.7 million. As of October 2, 2011, we had 37,500 unexercised stock options outstanding.

Restricted Stock

The following table summarizes restricted stock activity during the nine months ended October 2, 2011:

	Restricted Shares*			Weighted Average Grant Date Fair Value*
Unvested restricted stock, January 2, 2011		648,235		$	29.90
Granted		225,035		$	37.38
Vested		(252,894	)	$	30.08
Forfeited		(50,114	)	$	31.26
Unvested restricted stock, October 2, 2011		570,262		$	32.63

* Not presented in thousands.

 During the nine months ended October 2, 2011, employees and non-employee directors tendered 73,439 shares of their common stock to satisfy tax withholding requirements on the vesting of their restricted stock at an average price per share of $37.44.