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Note 12 - Treasury Stock Transactions
9 Months Ended
Oct. 02, 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 thirty-nine week period ended October 2, 2021, the Company purchased 1,157,719 shares at an average price of $3.58 per share. During the thirty-nine week period ended September 26, 2020, the Company purchased 1,858,139 shares for $1.20 per share. As of October 2, 2021, the Company has $3.4 million available for future treasury stock purchases.