Income Tax - Notes to the Financial Statements

3 Months Ended

Apr. 29, 2017

IncomeTaxDisclosureAbstract

Income Tax Disclosure [Text Block]

NOTE 9 – INCOME TAXES:

The Company had an effective tax rate for the first quarter of 2017 of 14.7% compared to an effective tax rate of 28.5% for the first quarter of 2016. The decrease in the effective tax rate was primarily due to lower earnings, a higher proportion of income being generated from jurisdictions with lower tax rates, favorable adjustments and ongoing savings from tax initiatives. The decrease in the effective tax rate was also due to a change in estimate for uncertain tax positions. See Note 1, General.