Share Repurchase Program

9 Months Ended

Jan. 01, 2017

Share Repurchase Program [Abstract]

Share Repurchase Program

Share Repurchase Program

In fiscal 2015, our Board authorized a share repurchase program of up to 300,000 shares of our outstanding common shares. Under the program, we are authorized to repurchase shares for cash on the open market or in privately negotiated transactions subject to applicable securities laws and regulations. Upon repurchase of the shares, we reduced our common stock for the par value of the shares with the excess applied against additional paid-in capital.

No shares were repurchased during the nine months endedJanuary 1, 2017. During the first nine months of fiscal 2016, 127,852 shares at an aggregate purchase price of $4.8 million were repurchased. The remaining balance of shares available to be repurchased under the current share repurchase program is 112,546 shares.