Note 12 - Treasury Stock Transactions

9 Months Ended

Oct. 01, 2016

Notes to Financial Statements

Treasury Stock [Text Block]

12. Treasury Stock Transactions

On October 28, 2013, the Board of Directors authorized a repurchase program to purchase up to $5.0 million of outstanding shares of common stock at the prevailing market prices, from time to time over the subsequent 12-month period. On September 30, 2014, the Board extended this repurchase program through October 31, 2015. On September 11, 2015, the Board extended this repurchase program through December 31, 2016. On August 9, 2016, the Board authorized an additional $5.0 million to the repurchase program and extended this repurchase program through December 31, 2017. During the thirty-nine week periods ended October 1, 2016 and October 3, 2015, the Company purchased 357,250 shares at an average price of $5.54 per share and 103,182 shares at an average price of $4.92, respectively. As of October 1, 2016, the Company has $5.2 million available for future treasury stock purchases.