Note 12 - Common Stock Repurchases

12 Months Ended

Mar. 30, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

NOTE 12.    COMMON STOCK REPURCHASES

From time to time, we acquire outstanding common stock in the open market to partially offset dilution from our equity award programs, to increase our return on invested capital and to bring our cash to a more appropriate level for our organization.

On August 28, 2007, we announced the approval of a share repurchase plan under which we were authorized to repurchase up to $100.0 million of our common stock.

On July 9, 2013, we announced the approval of a share repurchase program under which we were authorized to repurchase an additional $50.0 million of our common stock. The repurchase program does not have a termination date, and may be modified, extended or terminated at any time. We intend to retire all shares repurchased under the stock repurchase plan. The purchase price for the repurchased shares of Exar is reflected as a reduction of common stock and additional paid-in capital. We may continue to repurchase our common stock under the repurchase plan, which would reduce our cash, cash equivalents and/or short-term marketable securities available to fund future operations and to meet other liquidity requirements.

In the first fiscal quarter of 2014, we retired all of our 19.9 million treasury shares. 

As of March 30, 2014, we had repurchased shares valued at $97.2 million under the August 2007 repurchase program. During fiscal year 2014, we repurchased $9.0 million of our common stock under the July 2013 repurchase program. The repurchased shares were retired immediately. During fiscal year 2013 and 2012, we did not repurchase any shares. The remaining authorized amount for the stock repurchase under the repurchase programs is $52.8 million.

We repurchased shares valued at $3.0 million in the first quarter of fiscal year 2015.

Stock repurchase activities during fiscal year 2014 and 2013 were indicated below (in thousands, except per share amounts):

	Total number of Shares Purchased		Average Price Paid Per Share (or Unit)		Amount Paid for Purchase
Balances, April 1, 2012		9,564	$	9.22	$	88,189
Repurchases		—	$	—		—
Balances, March 31, 2013		9,564	$	9.22	$	88,189
Repurchases		755	$	11.92		9,000
Balances, March 30, 2014		10,319	$	9.42	$	97,189

Note: The average price paid per share is based on the total price paid by Exar, which includes applicable broker fees.