Shareholders' Equity

6 Months Ended

Aug. 03, 2013

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Note 10. Shareholders’ Equity

As of August 3, 2013, the Company repurchased approximately 418,000 shares of common stock at an average price of $5.10 per share, for an aggregate purchase price of $2.8 million, including direct fees related to the purchase of shares. The Company repurchased these shares via a tender offer in accordance with the stock repurchase program approved by the Board of Directors utilizing cash on hand. The Company classified the repurchased shares as treasury stock on the Company’s balance sheet.

On August 22, 2013, the Company’s Board of Directors approved a program to repurchase up to $22 million of the Company’s outstanding common stock. Under the repurchase program, the Company has the authority to repurchase shares in the open market, or through negotiated transactions from time to time. The amount and timing of any purchases will depend upon market and business conditions, including the price and availability of the Company’s shares, trading volume and the attractiveness of business opportunities amongst other things. The repurchased shares are expected to remain in treasury.