Note 10 - Common Stock Repurchase Program

6 Months Ended

Jul. 01, 2023

Notes to Financial Statements

Treasury Stock [Text Block]

Note 10 - Common Stock Repurchase Program

On August 8, 2022, we announced that our Board of Directors had approved a stock repurchase program pursuant to which up to $150 million of outstanding common stock could be repurchased from time to time (the "2023 Repurchase Program"). The duration of the 2023 Repurchase Program is through the end of December 2023. Under the 2023 Repurchase Program during the second quarter of fiscal 2023, we repurchased 122,337 shares for $10.0 million, or an average price paid per share of $81.76. Under this plan during the first six months of fiscal 2023, we have repurchased a total of 241,499 shares for $20.0 million, or an average price paid per share of $82.84. All repurchases were open market transactions funded from available working capital. All shares repurchased pursuant to the 2023 Repurchase Program were retired by the end of the second quarter of fiscal 2023. As of July 1, 2023, the remaining portion of the amount authorized for the 2023 Repurchase Program is approximately $109.7 million.