Stockholders' Equity

12 Months Ended

Mar. 30, 2014

Equity [Abstract]

Stockholders' Equity

Stockholders' Equity

Stock Repurchase Program. On July 21, 2010, the Company’s Board of Directors approved a share repurchase plan to repurchase up to $225 million of its common stock. In fiscal 2012, the Company repurchased approximately 10.4 million shares at an average price of $6.49 per share for a total purchase price of $67.5 million under this program. In fiscal 2013, the Company made no repurchases under the program. On October 22, 2013, the Company's Board approved a new share repurchase authorization for $150 million. In fiscal 2014, the Company repurchased 4.1 million shares for $44.0 million.

As of March 30, 2014, approximately $106 million was available for future purchase under this new share repurchase program.  Share repurchases were recorded as treasury stock and resulted in a reduction of stockholders’ equity.   The program is intended to reduce the number of outstanding shares of Common Stock to offset dilution from employee equity grants and increase stockholder value.