v3.26.1
INCOME TAXES
6 Months Ended
Apr. 04, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The following table reflects the provision for income taxes and the effective tax rate for the three and six months ended April 4, 2026 and March 29, 2025: 
Three months endedSix months ended
(dollar amounts in thousands)April 4, 2026March 29, 2025April 4, 2026March 29, 2025
Provision for income taxes$7,361 $5,438 $13,104 $16,770 
Effective tax rate17.3 %(6.9)%20.1 %120.7 %
As previously disclosed in fiscal 2025, the Company received reimbursement from the cancellation of a prior project, for which the Company was engaged by one of its customers to support the customer with the development and future mass production of certain technologies (the "Project"). In addition, the Company announced the cessation of its EA equipment business.
For the three and six months ended April 4, 2026, as compared to the same period ended March 29, 2025, the changes in provision for income taxes and effective tax rate were primarily due to the tax effects of the reimbursement from cancellation of the Project and the cessation of the EA equipment business, which were recorded as discrete items during fiscal 2025, partially offset by an increase in profitability in fiscal 2026.
For the three and six months ended April 4, 2026, the effective tax rate is lower than the U.S. federal statutory tax rate primarily due to tax credits and earnings of foreign subsidiaries subject to different tax rates than the U.S., partially offset by nondeductible expenses, deemed income, and taxes on undistributed foreign earnings.