Repurchase of Common Stock
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Sep. 28, 2013
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Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase of Common Stock |
Repurchase of Common Stock
As of June 29, 2013, our Board of Directors had authorized management to use up to $30.0 million to repurchase Delta Apparel stock in open market transactions under our Stock Repurchase Program.
During the transition period we purchased 129,348 shares of our common stock for a total cost of $2.1 million. During the prior year quarter, we purchased 72,854 shares of our common stock for a total cost of $1.0 million. As of September 28, 2013, we have purchased 2,043,571 shares of our common stock for an aggregate of $24.1 million since the inception of the Stock Repurchase Program. All purchases were made at the discretion of management and pursuant to the safe harbor provisions of SEC Rule 10b-18. As of September 28, 2013, $5.9 million remained available for future purchases under our Stock Repurchase Program, which does not have an expiration date.
The following table summarizes the purchases of our common stock for the transition period ended September 28, 2013:
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