Note 12 - Treasury Stock Transactions

3 Months Ended

Apr. 03, 2021

Notes to Financial Statements

Treasury Stock [Text Block]

12. Treasury Stock Transactions

On

January 13, 2021,

the Company's Board of Directors authorized a program to repurchase shares of the Company's common stock constituting, in the aggregate, up to an amount

not

to exceed

$7.5

million, consistent with the maximum limitation set forth by the Company's revolving line of credit. The program is designed to provide the Company with enhanced flexibility over the long term to optimize its capital structure. Shares of the common stock

may

be repurchased in the open market or through negotiated transactions. The program

may

be terminated or suspended at any time at the discretion of the Company.

During the

thirteen

week period ended

April 3, 2021,

the Company purchased

344,172

shares at an average price of

$2.65

per share. During the

thirteen

week period ended

March 28, 2020,

the Company did

not

purchase any shares. As of

April 3, 2021,

the Company has

$6.6

million available for future treasury stock purchases.