Note 11 - Income Taxes |
6 Months Ended |
|---|---|
Jul. 04, 2026 | |
| Notes to Financial Statements | |
| Income Tax Disclosure [Text Block] |
We are subject to federal and state income tax as well as income tax in the foreign jurisdictions in which we operate.
For the second quarter of fiscal 2026, we recorded an income tax benefit of $2.1 million and for the second quarter of fiscal 2025, we recorded income tax expense of $2.2 million. For the first six months of fiscal 2026 and 2025, we recorded income tax expense of approximately $3.3 million and $5.1 million, respectively. Income taxes for the three- and six-month periods ended July 4, 2026 and June 28, 2025 represent tax at the federal, state, and foreign statutory tax rates in addition to federal tax credits, stock-based compensation and other non-deductible items in federal, state, and foreign jurisdictions. The difference between the U.S. federal statutory tax rate of 21% and our effective tax rates for the three and six months ended July 4, 2026 and the three and six months ended June 28, 2025 resulted primarily from stock-based compensation expense, partially offset by foreign rate differentials.
The portion of our uncertain tax positions (including penalties and interest) recorded as a liability was $2.1 million at both July 4, 2026 and January 3, 2026, and is included as a component of Other long-term liabilities on our Consolidated Balance Sheets.
|