Shareholders' Equity

6 Months Ended

Mar. 29, 2014

Stockholders' Equity Note [Abstract]

Shareholders' Equity

SHAREHOLDERS' EQUITY

On August 19, 2013, the Board of Directors approved a stock repurchase program under which the Company is authorized to repurchase up to $30 million of its common stock. During the three months endedMarch 29, 2014, the Company repurchased 185,117 shares for approximately $7.6 million, at an average price of $41.18 per share. For the six months endedMarch 29, 2014, the Company repurchased 359,001 shares for approximately $14.6 million, at an average price of $40.55 per share. These shares were recorded as treasury stock. In addition, as of March 29, 2014, the Company had a commitment of approximately $0.4 million to purchase 9,449 shares, which were purchased before March 29, 2014, but settled after the end of the fiscal second quarter.

On October 23, 2012, the Board of Directors approved a stock repurchase program under which the Company was authorized to repurchase up to $50 million of its common stock. During the three months endedMarch 30, 2013, the Company repurchased 614,683 shares for approximately $15.5 million, at an average price of $25.17 per share. For the six months endedMarch 30, 2013, the Company repurchased 877,105 shares for approximately $21.5 million, at an average price of $24.56 per share. The Company repurchased 1,821,698 shares under this program in fiscal 2013 for approximately $49.9 million, at an average price of $27.37 per share. These shares were recorded as treasury stock.