Note 10 - Income Taxes

9 Months Ended

Nov. 27, 2016

Notes to Financial Statements

Income Tax Disclosure [Text Block]

10. INCOME TAXES

The Company’s effective tax rates for the

13

weeks and

39

weeks ended

November

27,

2016

were

6.4%

and

10.0%,

respectively, compared to

13.4%

and

12.1%,

respectively, for the

13

weeks and

39

weeks ended

November

29,

2015.

The lower effective tax rates for the

13

weeks and

39

weeks ended

November

27,

2016

were primarily due to lower taxable income in low tax rate jurisdictions to offset taxable losses in higher tax rate jurisdictions.

The Company continuously evaluates the liquidity and capital requirements of its operations in the United States and of its foreign operations. As a result of such evaluation during the

2014

fiscal year, the Company recorded a non - cash charge for the accrual of U.S. deferred income taxes in the amount of

$63,958

on undistributed earnings of the Company’s subsidiary in Singapore. In the

2016

fiscal year, the Company repatriated

$61,000

to the United States and paid income taxes of

$10,682

to the respective tax authorities.