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Income Taxes
3 Months Ended
Jul. 30, 2016
Income Taxes  
Income Taxes

8. Income Taxes

 

For the three months ended July 30, 2016, the Company recorded a benefit for income taxes of $3,863,000, yielding an effective tax benefit rate of 24.9%.  For the three months ended August 1, 2015, the Company recorded a benefit for income taxes of $4,248,000, yielding an effective tax rate of 37.8%.  The variance from statutory rates for the three months ended July 30, 2016, was primarily due to federal legislation reinstating the federal research and development tax credit during the third quarter of fiscal 2016 and the reversal of a $968,000 reserve, including the related interest, for uncertain tax positions due to the settlement of prior fiscal year audits.