Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity

v3.8.0.1
Stockholders' Equity
12 Months Ended
Oct. 29, 2017
Equity [Abstract]  
Stockholders' Equity
Stockholders’ Equity
(a)Common Stock

Each outstanding share of common stock is entitled to one vote per share on all matters submitted to a vote by shareholders. Subject to the rights of any preferred stock which may from time to time be outstanding, the holders of outstanding shares of common stock are entitled to receive dividends and, upon liquidation or dissolution, are entitled to receive pro rata all assets legally available for distribution to stockholders. No dividends were declared or paid on the common stock during fiscal 2017, 2016 or 2015. The holders of common stock have no preemptive or other subscription rights and there is no redemption or sinking fund provisions with respect to such shares. There is no preferred stock outstanding.
(b)Treasury Stock

On January 14, 2015, the Board of Directors approved a new 36-month share repurchase program of up to 1,500,000 shares of the Company's common stock to begin on January 19, 2015, replacing a prior program. Such repurchases will be made through open market or private transactions. Share repurchases under the program will be subject to specified parameters and certain price and volume restraints and any repurchased shares will be held in treasury. The exact number and timing of share repurchases will depend upon market conditions and other factors.  

In fiscal 2017 and 2016, the Company did not repurchase any shares of common stock. In fiscal 2015, the Company repurchased 340,800 shares of common stock at an average purchase price of $12.50 per share for an aggregate amount of $4.3 million. As of October 29, 2017, the Company had 1,159,200 shares available for repurchase.


(c)    Comprehensive Income (Loss)

The accumulated balances for each classification of other comprehensive income (loss) are as follows (in thousands):
 
Foreign
currency
gains/(losses)
 
Unrealized
gains/(losses)
on securities
 
Accumulated other
comprehensive
income (loss)
November 1, 2015
$
(7,971
)
 
$
(23
)
 
$
(7,994
)
Other comprehensive income (loss) before reclassifications
(3,284
)
 
23

 
(3,261
)
Amounts reclassified from accumulated other comprehensive income (loss)
643

 

 
643

Current period other comprehensive income (loss)
(2,641
)
 
23

 
(2,618
)
October 30, 2016
(10,612
)
 

 
(10,612
)
Other comprehensive income (loss) before reclassifications
3,614

 

 
3,614

Amounts reclassified from accumulated other comprehensive income (loss)
1,737

 

 
1,737

Current period other comprehensive income
5,351

 

 
5,351

October 29, 2017
$
(5,261
)
 
$

 
$
(5,261
)


Reclassifications from Accumulated other comprehensive loss for the twelve months ended October 29, 2017 were (in thousands):
 
Year Ended
 
Affected Line Item in the Statement Where Net Loss is Presented
 
October 29, 2017
 
October 30, 2016
 
Foreign currency translation
 
 
 
 
 
Sale of foreign subsidiary
$
(1,737
)
 
$

 
Foreign exchange gain (loss), net
Closure of foreign subsidiary

 
(643
)
 
Foreign exchange gain (loss), net

Total reclassifications, net of tax
$
(1,737
)
 
$
(643
)