Stock Repurchase Program Stock Repurchase Program

3 Months Ended

Mar. 29, 2014

Stockholders' Equity Attributable to Parent [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

STOCK REPURCHASE PROGRAM

As previously announced in March 2013, the Company’s Board of Directors approved the repurchase by the Company of up to $10 million of its common stock through open market or privately negotiated transactions. On August 15, 2013, the Company entered into a written trading plan (the “10b5-1 Plan”) under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to facilitate the repurchase of its shares in accordance with the Company’s share repurchase authorization.

The 10b5-1 Plan allowed the Company’s broker to repurchase common stock on the Company’s behalf pursuant to the terms and limitations specified in the 10b5-1 Plan, including to the extent such purchases are permitted pursuant to Regulation M and Rule 10b-18 under the Exchange Act. The 10b5-1 Plan terminated in accordance with its terms on February 14, 2014. The Company may enter into similar plans in the future to further implement the share repurchase program.

For the three months ended March, 29, 2014, the Company had repurchased 359,905 shares in the aggregate for a total purchase price of approximately $4.8 million and an average price per share of $13.45. The shares repurchased during the period include 31,731 shares that were repurchased, but had not settled at December 28, 2013.