Repurchase of Common Stock |
9 Months Ended |
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Jul. 02, 2016 | |
| Equity [Abstract] | |
| Repurchase of Common Stock |
Repurchase of Common Stock
As of July 2, 2016, our Board of Directors authorized management to use up to $40.0 million to repurchase stock in open market transactions under our Stock Repurchase Program.
We did not purchase any shares of our common stock during the quarter ended July 2, 2016. During the prior year June quarter, we purchased 30,700 shares of our common stock for a total cost of $0.4 million. Through July 2, 2016, we have purchased 2,376,372 shares of our common stock for an aggregate of $29.2 million since the inception of our 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 July 2, 2016, $10.8 million remained available for future purchases under our Stock Repurchase Program, which does not have an expiration date.
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