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Treasury Stock
12 Months Ended
Dec. 30, 2017
Equity [Abstract]  
Treasury Stock

NOTE 9 - TREASURY STOCK

 

On July 22, 2015, the Board approved the retirement of 981,099 shares of existing treasury shares.

 

On April 21, 2015, we announced the Board of Directors had authorized the repurchase of up to $2.0 million of our common stock from time to time through open market or privately negotiated transactions, based on prevailing market conditions. We are not obligated to repurchase any dollar amount or specific number of shares of common stock under the repurchase program, which may be suspended or discontinued at any time. As of December 30, 2017, the Company had purchased and retired 1,191,050 shares for $1.5 million under this program of which 63,156 shares were purchased in the three months ended July 1, 2017 for $91 thousand. The stock repurchase program was suspended on May 16, 2017.