Repurchase of Common Stock
|
12 Months Ended |
---|---|
Sep. 27, 2014
|
|
Equity [Abstract] | |
Repurchase of Common Stock |
REPURCHASE OF COMMON STOCK
As of June 30, 2012, our Board of Directors had authorized management to use up to $20.0 million to repurchase stock in open market transactions under our Stock Repurchase Program. On January 23, 2013, the Board of Directors authorized an additional $10.0 million for share repurchases, bringing the aggregate total authorized to $30.0 million.
During fiscal years 2014, the transition period ended September 28, 2013, and fiscal years 2013 and 2012, we purchased 78,674 shares, 129,348 shares, 544,576 shares, and 168,120 shares, respectively, of our common stock for a total cost of $1.2 million, $2.1 million, $7.8 million, and $2.6 million, respectively. As of September 27, 2014, we have purchased 2,122,246 shares of common stock for an aggregate of $25.3 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 27, 2014, $4.7 million remained available for future purchases under our Stock Repurchase Program, which does not have an expiration date.
There were no purchases of our common stock for the quarter ended September 27, 2014.
|