Quarterly report pursuant to Section 13 or 15(d)

Share Repurchases

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Share Repurchases
9 Months Ended
Sep. 30, 2012
Share Repurchases  
Share Repurchases

13.                Share Repurchases

 

In August 2010, the Company’s board of directors authorized a repurchase of up to $50 million of the Company’s equity securities which was scheduled to expire on December 31, 2011. On October 26, 2011, the Company’s board of directors re-authorized a repurchase of up to $50.0 million of the Company’s common stock, which is scheduled to expire on December 31, 2012. Under this authorization, repurchases of the Company’s common stock may be made from time to time in open market transactions and through privately negotiated transactions.  This repurchase plan does not obligate the Company to acquire any specific number of shares or acquire shares over any specified period of time. For the twelve weeks ended September 30, 2012, there were 266,314 shares repurchased with an average purchase price of $29.83 per share for a total of $7.9 million. For the forty weeks ended September 30, 2012, there were 521,445 shares repurchased with an average purchase price of $30.02 per share for a total of $15.7 million.  There were 681,466 shares repurchased in third quarter 2011 with an average purchase price of $29.77 per share for a total of $20.3 million.  For the forty weeks ended October 2, 2011, there were 1.1 million shares repurchased with an average purchase price of $27.78 per share for a total of $30.7 million.  As of September 30, 2012, there was $32.0 million remaining for repurchases of the Company’s common stock under the current board authorized repurchase plan.