Common Stock Repurchase

3 Months Ended

Jul. 02, 2011

Note 10 – Common Stock Repurchase

Share repurchase activities for the three months ended July 2, 2011 and July 3, 2010 are as follows:

	Three Months Ended
	July 2, 2011		July 3, 2010
Number of shares repurchased		151,000		-
Cost of shares repurchased	$	3,179,000	$	-
Average price per share	$	21.04	$	-

In January 2011, the Board of Directors designated $60,000,000 of its cash, cash equivalents and investments for a major stock repurchase during the period from January 2011 through March 2013 and accordingly increased the Company’s share repurchase program from approximately 556,000 shares to 2,500,000 shares. The amended repurchase program has no expiration date except when an aggregate of 2,500,000 shares have been repurchased, either on the open market or through private transactions. Under this program, cumulatively the Company has repurchased approximately 424,000 shares for $9,446,000 as of July 2, 2011.

Since the inception of the Company’s initial share repurchase program in 1992 through July 2, 2011, the Company has repurchased a total of approximately 2,768,000 shares of the common stock for an aggregate cost of $45,997,000 under its share repurchase programs. Upon their repurchase, shares are restored to the status of authorized but unissued shares. As of July 2, 2011, there were approximately 2,076,000 shares authorized for future repurchase under the Company’s current repurchase program.

Subsequent to July 2, 2011, the Company repurchased approximately 83,000 shares for $1,596,000.

- Definition

Tabular disclosure of an entity's treasury stock, including the average cost per share, carrying basis for each class of treasury stock, description of share repurchase program authorized by an entity's board of directors, the number of shares repurchased, the cost of the shares repurchased, the remaining maximum dollar value of shares available for repurchase under the program, the treatment of the purchase price in excess of the current market value, number of shares held for each class of treasury stock, and other information necessary to a fair presentation.

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