Stockholders' Equity Stockholders' Equity

12 Months Ended

Jan. 03, 2015

Stockholders' Equity Attributable to Parent [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

STOCKHOLDERS' EQUITY

Stock Repurchase Program

In August 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 existing share repurchase authorization. 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.

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 Plan, including to the extent such purchases were permitted pursuant to Regulation M and Rule 10b-18 of the Exchange Act.

The Company repurchased 328,174 shares during the year ended January 3, 2015 (which amount does not include 31,731 shares repurchased, but not settled at December 28, 2013 and which were purchased at an average price per share of $14.08), at an aggregate price of approximately $4.4 million and an average price per share of $13.39 under the repurchase plan.

Preferred Stock

As of January 3, 2015 and December 28, 2013, there were no shares of preferred stock outstanding.

Common Stock

The Company is authorized to issue up to 50,000,000 shares of common stock with a par value $0.001 per share.