Note 3 - Share Repurchase Program

3 Months Ended

Apr. 02, 2017

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

3. SHARE REPURCHASE PROGRAM

On

April

28,

2014,

the Company’s Board of Directors approved a share repurchase program (the “Share Repurchase Program”) which became effective on

May

1,

2014

and under which the Company was authorized to repurchase up to

1.8

million shares of its outstanding common stock over a period not to exceed

twelve

months. The Share Repurchase Program was extended through

June

2,

2016,

and the maximum number of shares authorized to be repurchased under the program was increased to

3.4

million shares.  Share repurchases under this program were made in accordance with SEC Rule

10b

-

18

using a variety of methods, which included open market purchases and block trades in compliance with applicable insider trading and other securities laws and regulations. With the exception of repurchases made during stock trading black-out periods under

10b5

-

1

Plans, the timing, manner, price and amount of any repurchases were determined at the Company’s discretion. The Share Repurchase Program expired on

June

2,

2016

and did not obligate the Company to repurchase any specific number of shares.  From the inception of the Share Repurchase Program on

May

1,

2014

through its expiration on

June

2,

2016,

the Company repurchased

2,592,095

shares for an aggregate cost (excluding fees and commissions) of

$10,480.

  There were

no

shares repurchased during the

three

-month period ended

March

 

27,

2016.