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Subsequent Event
6 Months Ended
Feb. 25, 2012
Subsequent Event [Abstract]  
Subsequent Event

NOTE 10 – SUBSEQUENT EVENT

Line of Credit Renewal

Subsequent to February 25, 2012, we entered into the First Modification Agreement (the Modified Agreement) to our previously existing amended and restated secured credit agreement (the Restated Credit Agreement) with our existing lender. The primary purpose of the Modified Agreement is to extend the maturity date of the Restated Credit Agreement, which originally expired on March 14, 2012. The Modified Agreement continues to provide a revolving line of credit facility with a maximum borrowing amount of $10.0 million that now matures on March 31, 2013. The interest rate continues to be LIBOR plus 2.50 percent and the revolving credit facility may be used for general business purposes.

The other terms, conditions, and financial covenants in the Modified Agreement are substantially the same as those defined in the Restated Credit Agreement. In the event of noncompliance with the financial covenants and other defined events of default, the lender is entitled to certain remedies, including acceleration of the repayment of amounts outstanding on the line of credit facility.

We believe that the Modified Agreement will allow us to maintain adequate liquidity for at least the next twelve months.

Common Stock Buyback

Subsequent to February 25, 2012 the Company's Board of Directors approved a plan to purchase up to $10.0 million of the Company's outstanding common stock. The Company intends to use available cash exceeding $10.0 million to make the purchases. All previously existing common stock repurchase plans were canceled and the new common share repurchase plan does not have an expiration date.

The actual timing, number, and value of common shares repurchased under the plan will be determined by management in its discretion and will depend on a number of factors, including, among others, general market and business conditions, the trading price of common shares, and applicable legal requirements. The Company has no obligation to repurchase any common shares under the authorization, and the repurchase plan may be suspended, discontinued, or modified at any time for any reason.