Stock Repurchase Program

3 Months Ended

Apr. 02, 2017

Equity [Abstract]

Stock Repurchase Program

Stock Repurchase Program

In November 2015, the Company's Board of Directors authorized the repurchase of $100,000,000 of the Company's common stock. As of April 2, 2017, the Company repurchased 919,000 shares at a cost of $61,152,000 under this program, including 380,000 shares at a cost of $30,067,000 in the first quarter of 2017, leaving a remaining authorized balance of $38,848,000. The Company may repurchase shares under the November 2015 program in future periods depending upon a variety of factors, including, among other things, the impact of dilution from employee stock options, stock price, share availability, and cash requirements.